Help?

Better hope that you're using the correct socket type. I'm sure that's a AM2+

it is and im sure. I checked with my friend who is so smart with computers!

but with this and my ATI radeon 4350 HD should i not lag?

A 4350 should be equal to a 9500/9600GT. You'll get decent FPS.
It's an AM2+, but is your motherboard supporting of AM2+ processors.

I have a AM3 socket. my friend said this will work.

If you use two different socket types, it won't work, unless the BIOS supports it on the motherboard***. Some motherboards support AM2+/AM3, but if you're using strictly AM3, it won't work.

look at teh speccy pic bro.

Upgrade your video card.

'Decent' You don't know much about the cards then, if you have a 9500 or at least a 9600. You're set pretty much!