Yeah, but expect general slow performance where there is no apparant reason for it to be that way. Celeron processors are budget CPU's and are considered... slow...
But since you've already bought it, let's make the best of it. I too think it should be able to run most titles up-to-date although games like oblivion will be laggy if you are in a place with a lot of people, also black and white 2 will be laggy if you get many
many people
. But that shouldn't be a worry, all other games i know of should run pretty well on it.