The game can't use more than 2GB RAM.
I have only 3.2GB on Win7 32bit and I am running the game, browser, a download and I have 1.3GB still available. So much for the need for a lot of RAM.
Otherwise, I have an AMD Phenom II 955 quad @3.2 MHz,
GTX 460Amp 1GB (oc ex factory).
Game runs on ultra with ubersampling and motion blur disabled, everything else enabled on 30-50 fps (but I haven't gotten into the woods yet, they are supposed to slow it down somewhat). NVidia cards seem to be better off on this one. At least at the moment, new drivers might fix a lot of problems in the future. So it might be up to preference or waiting a while until things are sorted out.