assuming the same res, you will NEED to upgrade your gpu before 2gb isn't enough (single monitor).
You would be surprised what kind of stuff certain people are using. The issue with the RAM is, as soon as the RAM is overused, the performance will drop countless times, to a almost unplayable condition.
But a processor will simply slowly drop its performance when to weak but there wont be a instant performance drop, which is so crazy that it goes from 100% to almost 0% in a single hit.
I once used a 32 bit system and 3.25 GB RAM (32 bit limit when a 1 GB card is used). When i was dualboxing a game, the RAM was flooded, and at that point the PC almost stopped to work, it was over and impossible to run. RAM simply isnt noticed until its flooded, when they are flooded, its game over.
I was once playing WoW, at 2004 with a PC who got 512 MB RAM (at that time that was pretty normal). As soon as i entered the city the PC stopped to work for up to 5-10 seconds, and it was lagging terrible. The processors was totaly useless to solve the issues, until i decided to upgrade to 1 GB. As soon as that was done... the issues was finally gone. Nowadays such issue are less common because we usualy got huge amount of RAM, buts its still not impossible when it comes to GPU RAM. The impact is usualy lower (than system RAM) because when GPU RAM is flooded the PC is probably trying to use system RAM. But they are much slower, so the performance will drop a good margin, at least it may not stop working.