I am not an endless pile of money but want to upgrade my son's computer so that he can play Lone Echo. I know that there are much better systems for VR but I want to know what upgrades would give him the best improvements without spending a fortune.
Steam has a VR test (https/store.steampowered.com/app/323910/SteamVR_Performance_Test/) which will elevate the system. Not sure how accurate it it but it's a good starting point. I think the main concern would by the graphics card in your sons system, not that its a bad card but its older and not really designed with VR in mind.
+1 with the VR test, that card seems to be built without VR in mind. I would try the oculus with the current build and if it under performs, upgrade the video card to something like a GTX 1060 6gb. They can be purchased fairly cheap used off ebay in the $175 range.