Your PC looks CAPABLE of running it, but it doesn't look like you're going to get dazzling performance. Your processor is capable but rather lacking, and your videocard is not really made for intense gaming. It's a 1GB card but it is definitely low grade. It'll likely run fine, but don't expect silky smooth performance and much over medium detail levels.
What he said, here are the official minimum requirements.
Windows 7/Vista/XP PC (32 or 64 bit)
Processor: Dual Core 2.0GHz or equivalent processor
2GB System RAM
6GB free HDD Space
Direct X 9.0c compliant video card with 512 MB of RAM
DirectX compatible sound card
Internet access for Steam activation
So yeah, you should be able to run it around low-medium settings. Definitly medium in NV and Fallout 3. As I said, it's possible to run Skyrim at much worse video cards. Your performance won't be perfect, but with Skyboost and .ini tweaks (check the Nvidia Tweak Guide) you should be able to have a good experience.