Will a gtx 460 + 2500k i5 + 8 gigs ddr3 be OK, or will this just be minimum reqs, you know how painful it is to listen to your PC struggle and croak away for minutes on end etc.
The SSD storage (i use a 240 GB Samsung EVO 850 for the system (it’s a good choice, if you planning to buy a SSD in the future) and the UE4 + marketplace project assets and other programs, like Substance Suit and Autodesk apps) is an essential thing for anything today (especially to a dev envirement), as i experienced, and you know; bigger is always better (CPU, GPU and much more RAM) in our case. 
That’s going to be on the low end, it’s better than an Intel integrated GPU but not super amazing
If at all possible, get a better GPU. GTX 970 is a safe choice, but if you are short on money something cheaper like a second hand GTX 660 will do.
I have a GTX 660 at the moment and it does a pretty good job, struggles a wee bit with the oculus stuff though