Here's an equivalent hardware build as far as I could research the X8700. I looked for parts matching those specs and chose the lowest priced matches I could find. Comes surprisingly close to $800, although Dell's MSRP is around $1100.
Yes, the Dell has 4 x 4GB RAM and a Z87 motherboard with only one PCI-E x16 slot, I assume they didn't see the point in changing it to Z97 if a bios update was all they needed. It also has a GT 745, which is a custom OEM part Nvidia makes just for Dell. According to the specs, it's an improved GT 740 with higher clock and more memory, but same number of CUDA cores so not quite as good as GT 750. Included mouse and keyboard.
Information source links:
http://www.geforce.com/hardware/desktop-gpus/geforce-gtx-745-oem/specifications
http://www.geforce.com/hardware/desktop-gpus/geforce-gt-740/specifications
http://www.microcenter.com/product/432949/xps_8700_desktop_computer
http://www.pcworld.com/article/2047...tle-less-performance-for-a-lot-less-cash.html
For the cost, it's decent. It's as close to actual hardware cost as possible (for PC builders, not for Dell who buys these parts at a lower price), so if for some reason you just can't assemble your own, at least you're not getting ripped off on the value.
As a gaming PC... I wouldn't recommend this. The processor is fine, but the motherboard is low end and very limited. Likely a stock or near-stock heatsink, and according to PC World's review, the case has a single small fan providing all the airflow, which means when it heats it, it heats up good. All of the RAM slots are also filled up. Not that most people will ever need 16GB or more..
The graphics card is sorta OK. It's a very strong GT 740 with a lot of VRAM, but still a low-mid range card in terms of power. An $800 PC build can have a much, much stronger video card. If you're considering buying this PC and hoping to upgrade graphics later, you'll be limited by the 460 watt power supply.
The case is pretty normal as far as OEM goes. It's relatively small and compact, but cooling might be an issue because of that single 92mm fan. I can't say for certain, but the 92mm fan might be loud. Most 92mm fans I've seen are loud to compensate for small size and generally lower airflow.
Other stuff like card reader, DVD drive, and wifi capability I won't comment on as that's up to the buyer if they're wanted, and don't have much to do with performance.