Can I run Outlast? And on what settings would be recommended?

Operating System: Windows XP/Vista/7/8
Processor: Intel Core 2 Duo @ 2.2 Ghz / AMD Athlon 64 X2 4600+
RAM: 2 Gb
Disk Space: 5 Gb free
Video RAM: 512 Mb
Video Card: nVidia GeForce 9800 / ATI Radeon HD 4870
Sound Card: DirectX Compatible
Network:
Direct X: 9.0c

I would say Low settings, But I suggest to turn up motion blur if you want a smooth low fps experience.