Norm,
Try a different video card if you can. This is a big part of your bottlenck on your machine. TS2010 makes more use of the video card than the other versions. SpeedTrees, in particular, use the video card for rendering instead of the CPU, which was used all the time by the older versions.
There are quite a few people here with the same machine specs that you have, and their machines run TS2010 quite nicely. I think the difference is their video cards.
John
While an 8400 isn't a *great* card, it's his CPU that is the furthest below spec - a Prescott Pentium 4 3.4GHz is *not* a "Pentium D or better", the Pentium D is a dual-core chip.
And while speedtrees do use the GPU somewhat, trainz is still very much CPU bound.
Of course, upgrading CPU is going to be a 3-item process, since he'll need a new CPU, motherboard and (most likely) RAM, which means it'll also be the most costly thing to upgrade.
By all means try a faster card if you can do so with a 'no questions money back in 7 days' deal or have some way of loaning a faster card. But don't be too surprised if it only adds a few FPS.