Your Pentium 4 Northwood @ 3.06 GHz came out in 2003. That's seven years ago. Even though the guy who sold it to you told you it was "the most kick-ass über-machine ever conceived", technology kept evolving.
To help you understand my point, this is how Grand Theft Auto looked back then:
(click to enbiggen)
This is how GTA IV looks nowadays... and it came out in 2008! That's two years ago!
(click to enbiggen)
If you can't see the difference yet, just read this 18 page comparison article on Tech Report and search for your P4 in the graphs.
Summarising:
No, your computer won't be able to run <new-and-hyped-MMORPG>. Even if it runs games that are 6 year old (like World of Warcraft, for example), technology just didn't stop just so you could play every single game. I'm sorry. Now, please, leave the forums section of the <new-and-hyped-MMORPG>'s for those who have a computer from this age.

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