Yes, you can play it but you will have some frame rate problems. They will occur in harbor and near convoys. If you have particle density set up, you will also have problems with busy graphics, such as burning ships.
Since the cost of GWX isn't a factor, install it and see if the game play is OK.
The best way to booste your machine would be to add 2Gb of RAM and use the 4Gb switch.
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Irish1958
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