Cubase Artist 9 System

Hello all.
I used to be a Cubase (SX3) user many years ago and I’m wanting to get back into my home studio and try out some new ideas. Looks like Artist 9 will suit me for now and I’m curious about the computer I have on hand. Is it going to give me enough HP to use VST instruments, MIDI and effects without slamming the resources.

My current system:
HP XW8400
Dual quad core Xeon, 3.0 Ghz
Win 7 Pro 64 bit
Barracuda 1TB, 7200 RPM system drive
Barracuda 1TB, 7200 RPM data drive
32 gig Ram
NVIDIA FX4800 graphics. 1.5G GDDR3, DirectX 10, OpenGL 2.1
Mackie Onyx 16 ch. FW mixer

Hoping this will get me started then I can upgrade later. I previously used an HP XW8000, dual Xeon, 8 gig of ram and WinXP 32 bit. Seems I was always banging the CPU pretty hard by the time I got to mixing.