Yes, you can run the game with all settings turned to MAX - BUT: maybe you'll just get a slide show
To be honest, I think that the size of the memory of your GPU is the limiting factor. If you read the other threads in this forum than you'll see that it's recommended to have as much as possible. So go for a card with 2GB or 3GB VRAM.
You forgot to mention the resolution of your screen: it's a different thing if you want to run the game on 800x600 or 1920x1200 ...