Well, since you're majoring in a programming field, I'd seriously recommend a Q6600 instead of the dual-core you have there. It'll work better for compiling and pretty much everything else that's not gaming.
And for ~$15 more, you can get a HD3850 instead of that 8600GT. It's a better card overall, and it'll last longer.
The 420w PSU will be enough to power it all.
Do you already have a hard drive? There are 320GB ones going for ~$60, just in case.
The motherboard you chose is for enthusiasts, and unless you're planning on overclocking, it's not worth it. However, I'd seriously recommend OC'ing. If you couple the Q6600 with a third-party heatsink (for a cheap but good alternative, an Artic Cooling one should be great, but I'd easily recommend this one instead. You could go above 3.2GHz with no problems.).
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