Just to circle back and let you know the results.
Asus P5Q-E mobo
Intel Core 2 Duo E8500 (stock speed, but want to OC 400x8)
Cooler Master Hypo D92 (to overclock)
500 GB Crucial SSD
Asus GTX 750 Ti (2 GB DDR5)
8 GB Crucial DDR2 800 (4x2GB)
EVGA Supernova 650 80+ PSU
I took your advice upgraded the video card, memory, SSD, and OS, along with other components. Everything installed fine. The difference an SSD makes is tremendous and the new card ran SOMA great. I was actually able to play it with high settings and finish it.
A couple of things to note:
I then had some trouble with Windows 7 (Home Premium 64-bit) update. When I would go to the control panel and select "check for updates" it would just search for updates indefinitely, even after activating the product. I did a clean install twice just to make sure, but still ran into the issue. I do live in central Asia, so maybe there's an issue with connecting to the Microsoft servers so far away. But then again, I ended up switching to Windows 10 via the free upgrade, so maybe distance from the servers isn't an issue after all.
An interesting point is that the Windows 10 Setup wizard will eventually have to search for updates, which brought me back to the same problem I had with Win 7. To solve this, I continued to let the Windows 10 setup check for updates and then I ran the Windows Update Automated Troubleshooter at the same time. It was a frustrating issue, but this solved the problem and nudged the installation process forward. I read online that other users were having this issue, so I just thought I'd share what worked for me.
Long story short, Win 10 runs great and I can run Fallout 4, though at low settings to get > 40 FPS. GeForce Experience says that my PC doesn't meet the minimum requirements; though, the only requirement it doesn't meet is the CPU. Interestingly, I can run it at high settings between 25-30 FPS, but it's a bit jittery. At low settings, the graphics still look good and the game is fully playable and enjoyable. The only exception would be shadows and other lines, which can look jagged because of FXAA. I still see it as a win.
Now, I haven't OC'd the processor yet. One issue I'm having with Fallout 4 is that the game will sometimes crash my PC. It's weird. I ran the game all day the other day and had no issues. Then yesterday it happened a couple of times. I downloaded HWMonitor to check temps and everything looked okay. I wonder if it's just unreliable electricity or something. I read that other users have issues with the game crashing their PCs. Maybe a bug or something? There isn't anything to see in the event log, other than the PC reset, so it's difficult to diagnose. I feel I shouldn't OC the processor until this gets resolved (if it's resolvable). The PC is, after all, still using older significant hardware (mobo and CPU). No BSOD of though.