It is possible to hackintosh that machine, I would reccommed an older version of OS X though, maybe JaS 10.4.11 or even a distribution of 10.5 depending on your RAM.
The ATi Rage card has no chance of QE/CI Acceleration or full resolution.

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My Specs
System: Custom Built
Mobo: ASRock Z68 Extreme4 Gen3
OS:Mac OS X MountainLion 10.8.2 & Windows 7 Ultimate x64
CPU: Intel Core i7 2600k @ 4.2GHz
Memory: 16GB DDR3 XMS3 1600MHz
Graphics Card: AMD Radeon HD 6870 1GB

Email/Gtalk:
[email protected]