Yes it will, probably at a slow framerate though. However, you might not want to get that particular GeForce FX card, unless it is extremely cheap or free (not because of Chankast, but because there are better cards out there for a cheap price).
Edit: I see you changed it to a 5500 (was FX 5950 before), well you might not get a 6 series or 7 series for the same money.