Those specs will run it very well, max will run on quite low spec machines but obviously having dual or quad cores will speed up render times etc. I'd recommend using direct 3d instead of open GL for your viewports.
I've got that exact vid card and the same amount of RAM, and the other specs are similar as well. It'll run like a dream. Some things are always gonna be slow like complex particle flows and renders with GI and displacement etc - unless you've got an absolute beast - but for the most part you won't have too many troubles.[Link to www.3dprevis.com]
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