Your computers specs are "perfectly OK"
You DO NOT need to buy anything extra. You dont need to update the BIOS (cmon guys you know that computer will never turn on again if we send him re-flashing the BIOS)
Here's a couple really really easy steps that will help. If they dont help enough THEN you can go out and spend $$$. YOU HAVE MORE THAN ENOUGH FOR A BLISTERING FAST COMPUTER, especially for loading web pages, etc.
1. clear the dektop. dont just nest files or folders. move them to C: or somewhere else. Leave as little items as possible.
2. Turn off all animations, windows visual effects. bubbly fonts, etc. To do this right click anywhere in an empty space on the desktop. select properties. select appearance. Windows classic styles always load faster. Check that you don't have any effects (unless you like them for some reason)
3. Try using Opera internet browser. Many tests have shown it kicks Internet Explorer's butt in almost EVERYTHING. It might take some getting used to but its worh it, if you need that extra speed. Pages load A LOT faster.
4. Show us what you have in the windows start up. "Start" --> run--> type in "msconfig" and open the start up tab. If you have 4, 5, or more items that is BAD news. (typicly)
Hope this helped. Use at your own risk though.
p.s. thx for bidding on my VLSD diff =)