Post the model type (e.g. dell XPS 720) - we can look it up. At the very least, the Motherboard and PSU makes would need to be known in order to answer the question.
While I agree that a GF 8300 has lowered performance expectations, I'm not aware of any specific features that are missing (although as Jenny stated, budget cards can have hardware features disabled).
Can you post the version of your video driver?
Edit -
Here's something interesting you can try.
Immediately after you press play, press Alt+Enter - this should place the game in a windowed mode. If you can continue to the point that you’re able to see the Game Options, try adjusting the screen size to something less than your desktop resolution (and make sure the refresh rate is set to 60 while you're at it).
Here's what it will look like windowed -
Memento Mori in an 800x600 Window