Intel will bring in price drops on July the 22nd. The highlight being a Q6600 for $300 (retail).
Start with this and build from it:
CPU: Intel Core 2 Duo E6420 - $186
http://www.newegg.com/Product/Product.aspx?Item=N82E16819115016
Motherboard: Foxconn P35A - $115 (after $20 rebate)
http://www.newegg.com/Product/Product.aspx?Item=N82E16813186119
RAM: 2GB of Crucial Ballstix DDR2-800 - $70 (after $45 rebate)
http://www.newegg.com/Product/Product.aspx?Item=N82E16820146565
GPU: EVGA GeForce 8800GTS 320MB - $260 (after $20 rebate)
http://www.newegg.com/Product/Product.aspx?Item=N82E16814130082
PSU: Seasonic S12 500w PSU -$95 (after $30 mail in rebate)
http://www.newegg.com/Product/Product.aspx?Item=N82E16817151029
DVD-RW: Lite ON Black SATA DVD-RW - $38
http://www.newegg.com/Product/Product.aspx?Item=N82E16827106057
HDD: Western Digital 250 GB SE16 - $70
http://www.newegg.com/Product/Product.aspx?Item=N82E16822144701
Case: Lian Li AluminiumPC-7SB - $100 (you can choose whatever case you want actually)
http://www.newegg.com/Product/Product.aspx?Item=N82E16811112138
Optional/Other Stuff:
Floppy Disk Drive
CPU Cooler (needed for overclocks beyond 3GHz)
Monitor
Keyboard and Mouse
Speakers/Headphones
Operating System (if not already purchased)
Grand Total (including mail in rebates):
$ 934
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