Noob question Here :

Can you play the Latest PC games on a hackintosh?

yep, using bootcamp/vmware/parallels

That depends on your sys config

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what do you mean? i just bought a macbook with 2.4GHz and 4GB RAM and i want to play COD4, can i?

is going to work with low details..but will work

VMware will NOT allow you to play the latest games for the simple reason that it does not allow you to update certain drivers - most specifically the graphics card (the most useful component for games). Most recent games need pixel shader 3.0 etc...which are NOT automatically installed with windows...so...

But you can always use bootcamp - if you manage to get it from somewhere cause I cannot find a copy anywhere!?

Bootcamp comes as part of the Leopard Install Disk.

To setup bootcamp use the bootcamp assistant in the utilities folder under applications. The install disk contains the drivers you will need for XP/Vista.