You're probably getting a better system than you'd get at retail because things like the motherboard and memory might be better quality than an OEM built one.
When it comes to the hardware spec. Three things that stand out though:
- This is using an Ivybridge CPU from Intel which uses the older (just replaced) LGA1155 socket. The latest CPU's are Haswell. They will cost more (not much) and I'd go for one of those
- The graphics card is very low spec - I'd get something better. In fact the GPU in the latest Haswell CPU's might be good enough for you if you're not into gaming etc. The GTS 210 is about £15.
- The motherboard is a micro ATX - do you need/want a smaller case for any particular reason?
Ignoring software, the cost of that including a case/PSU etc. will be less than £400 for the hardware I'd say.
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