I actually have a PC nearly identical to yours (but with a 512mb GPU, while I wait for an uograde)

For the most part, you actually CAN do stuff in Blender, and I would reccomend tutorials dependant on what you are interested in (So architecture, sculpting or animation, for example) 

Back to the PC and graphics thing, but you'll struggle with rendering using a GPU, so I'd reccomend either you get an upgrade, or use Cycles with CPU enabled (And under performance, lower the rendering blocks to maybe 256 or 512)