Yes, do check if you can replace the MoBo and CPU. An Intel i7 is probably the best way to go. Even a high-end i5 would possibly be satisfactory. It doesn't need to be top of the line, but the i7 range is going to be your friend.
Check also the power supply requirements and pin configurations. You need to know if the connector(s) on the MoBo are compatible with your existing power supply or if that might need replacing as well.
(And with a smart performing system you'll have playback in a few seconds instead of the eternity it is taking now

)