Possible to upgrade?

Greetings,

Dont laugh...

In 2006 I bought the top of the line Mac Pro. I think with the 30" display at the time I spent a almost $7,000 on my mac. Business was good and I figured why not treat myself to a nice mac for home. I like doing web graphics etc on the mac over the PC. But at work we use corel a lot for t-shirt printing.


My system:

Hardware Overview:

Model Name: Mac Pro
Model Identifier: MacPro1,1
Processor Name: Dual-Core Intel Xeon
Processor Speed: 3 GHz
Number Of Processors: 2
Total Number Of Cores: 4
L2 Cache (per processor): 4 MB
Memory: 3 GB
Bus Speed: 1.33 GHz
Boot ROM Version: MP11.005C.B04
SMC Version (system): 1.7f8
Serial Number (system): ***********
Hardware UUID: 00000000-0000-1000-8000-************


Is there anything I can do to upgrade this system to be more up to date?

Can I put in a new motherboard and processor etc? or would it make sense to just buy new Mac? Money is tight... is I have to really weigh out the options. Hurricane Sandy devastated my business so any extra money I had went to rebuilding... But my mac is acting up and I think I need to do something very soon.

Any help would be greatly appreciated.

Thank you

Tim