http://www.yougamers.com/gameometer/10484/
That website will accurately tell you if you can run it, try that first. Definitely get a wired xbox controller, i got an xbox brand one from gamestop for like $20 or $30 and then run an HDMI cable from your pc to your tv.
I was gonna post a pic of my setup but i guess i dont have one saved, i did stumble across a couple screencaps though so i'll post those:
A clippers blue away jersey i made
This was the purple bucks jersey i made, i was testing out color and lighting
Bucks jersey again
Just always remember to backup your files before you add any sort of gameplay mod, global or any big change. With courts, shoes, and faces you are fine. There have been a couple times that i've had to start over from scratch because i didnt make backups. In fact, here's what i do and this is what i recommend:
In your 2k sports folder, have a few different setups. I have:
NBA 2K Mod Tool
NBA 2K Original Backup
NBA 2K Retro (This has HAWK23's retro files on it, i think some replace current ones)
NBA Live 2000 (a 99-2000 season mod)
NBA 2K12 (my current version that i always backup before i make major changes)
I then placed shortcuts on my desktop but made different icons for each, Live 2000 has the Tim Duncan cover and retro has a Jordan icon.