Outlast came out on 04/09 and for those of you brave enough to give it a try here are the minimum and recommended system requirements.
The game looks to be one that's not for the squeamish, with you playing as an investigative journalist who takes it upon themselves to explore an abandoned mental asylum. Cracking idea...
The game looks absolutely fantastic in videos so have a quick look at these specs to see how it will stack up on your PC.
Outlast Minimum System Requirements
OS: Windows XP / Vista / 7 / 8 - 64 bits *
CPU: 2.2 GHz Dual Core CPU
RAM: 2 GB RAM
GPU: 512 MB NVIDIA GeForce 9800GTX / ATI Radeon HD 3xxx series
DX: DirectX 9.0c
HDD: 5 GB available space
NET: Broadband Internet connection
Outlast Recommended System Requirements
OS: Windows Vista / 7 / 8 - 64 bits
CPU: 2.8 GHz Quad Core CPU
RAM: 3 GB RAM
GPU: 1GB NVIDIA GTX 460 / ATI Radeon HD 6850 or better
From the looks of things it seems a fairly demanding game if you want to squeeze some of that visual loveliness out of it. While your rig might not necessarily stack up to the task of some of the higher visual settings it should run fairly well at minimum and above.
The graphics do look a significant notch up from similar horror titles such as Amnesia: The Dark Descent and as such we are seeing jumps like those in the recommended requirements.