Simple answer: no.

Yeah your system may meet some of the recommended specs but even on the recommended specs its very resource heavy. Should you get it be ready to lower settings in the game

The PMDG is hard on FPS unless you have a very high end system. 

The other thing is that you SHOULD NOT get it if you just want to occasionally fly around in it.  It is too complex and in depth for that. 

747's are long haulers.  If that's the kind of sim flying you like to do great.  If on the other hand like many of us, you only have a couple hours a day that are free, I would save your money and get something a little less complex that you can do shorter flights with.

I've had it for a long time.  I can't remember the last time I booted it to go fly it.  It's another payware hanger queen on my setup.

Nothing wrong with the product, it's a 9.5/10, but not something the casual simmer should get IMO.

Wish I could sell you my copy.

Faster computer? Do you see my signiture? You can't get it much faster.. which component would you change to get better performance in my case? Just curious...
BTW.. I have Ultimate traffic 2.. this one eats frames for breakfast.

Sorry, my bad

Precision Manuals tend to overstate their system requirements for their add-on aircraft; at least, this has been the case in my experience.  Your RAM and graphics card certainly appear to fit the requirements, and the only thing that is slowing you down is your processor.  In my humble opinion, I believe the PMDG should run okay on your system.  Perhaps even smoothly depending on what your settings are.  I would not necessarily recommend it, but if your really keen on buying the product, I would say it could possibly pass. 

Think of it this way:  I used to run the PMDG 737 (FS9) on a 700 mhz system with 256 megs of ram and Geforce FX5200.  The minimum requirement for that product is a 1.4 ghz processor with recommended 2.5 GHZ.  Not the smoothest sim experience, but playable enough that I can land the crate by hand.  Was getting roughly 10-17ish fps on medium graphics settings. 

I also used to run the PMDG 747 (also FS9) on my 1.7 ghz single core laptop with only 512 megs of ram and 256 meg Geforce 6200.  The recommended system requirements for that was 3.0 ghz, 2GB of RAM, and 512 meg graphics card.  I was able to run it at a decent 15-20 fps on almost full graphics. 

Undoubtedly, FSX is a bit more system intensive, but I do not think it is totally hopeless for you to fly this bird.  Not to lead you into any false hopes or anything, but this has been my experience with their products. 

And yes, the PMDG birds typically runs better than Captain Sim birds.  The latter have more complex visual models: both exterior and interior.