I've just done my taxes, and want to upgrade my PC. This will be for light video editing
and gaming. I do intend on getting BF3 when it arrives.. but will only be using 1 Dell SP2309W monitor
Since I don't know how to build properly, or have the patience.. I decided to check out ibuypower.com.
Here are the components I picked out, and managed to come out $3.85 over budget.

1 x Case ( Thermaltake Dokker Gaming Case - Black )
1 x Processor ( Sandy Bridge Intel® Core™ i5-2500K Processor (4x 3.30GHz/6MB L3 Cache) )
1 x Processor Cooling ( Asetek 550LC Liquid CPU Cooling System (Intel) - Enermax Dual Silent High Performance Fan Upgrade (Push-Pull Airflow) )
1 x Memory ( 8 GB [2 GB X4] DDR3-1333 Memory Module - Corsair XMS3 Dominator w/DHX technology )
1 x Video Card ( NVIDIA GeForce GTX 560 Ti - 1GB - EVGA Superclocked - Core: 900MHz - Single Card )
1 x Free Stuff ( [FREE] - 12-In-1 External Built-in USB Cable Flash Media Card Reader/Writer SDHC supported )
1 x Free Stuff ( [Free Game Voucher] - Star Trek Online - Free with Purchase of Selected Intel Core i5/i7 Processor or SSD )
1 x Motherboard ( [SLI] ASUS Sabertooth P67 -- Thermal Armor Airflow design )
1 x Motherboard USB / SATA Interface ( Motherboard default USB / SATA Interface )
1 x Power Supply ( 800 Watt -- Standard )
1 x Primary Hard Drive ( 1 TB HARD DRIVE -- 64M Cache, 7200 RPM, 6.0Gb/s - Single Drive )
1 x Optical Drive ( 24X Sony Dual Format/Double Layer DVD±R/±RW + CD-R/RW Drive - Black )
1 x Meter Display ( NZXT Sentry 2 Touch Screen Fan Controller & Temperature Display )
1 x Sound Card ( Creative Labs Sound Blaster X-Fi Xtreme Audio )
1 x Network Card ( [$49 - $20 Instant off = $29] Killer Xeno Pro Gaming Network Card )
1 x Operating System ( Microsoft Windows 7 Home Premium + Office Starter 2010 (Includes basic versions of Word and Excel) - 64-Bit )
1 x Advanced Build Options ( Professional wiring for all cables inside the system tower - Achieve exceptional airflow in your chassis )
1 x Advanced Build Options ( Professional wiring for all cables inside the system tower - Basic Pro Wiring )
1 x Warranty ( Standard Warranty Service - Standard 3-Year Limited Warranty + Lifetime Technical Support )
1 x Rush Service ( Rush Service Fee (not shipping fee) - Deferred Delivery (Ship Out in 15 Business Days) - 5% OFF on systems over $999 (Coupon Code: defer) )

1503.85

Better or equivalent to Jeffs setup?
I know he has a faster card, and better case.. but I hope the mobo/cooling/dominator memory will help.
Of course there are a few items not needed, but wern't too expensive

I went with the i5 over 7, because this is unlocked and shouldn't be much slower than a locked i7

What do you guys think? 
For fun, do you think you could beat this system for 1500 on any other site? If so, I'll buy you a cookie! 

Beefy system. I've done may taxes and have come to the opposite decision - I'm done with PC gaming for the time being. I just can't be bothered to keep up with it any more. Maybe in the future I'll re-enter the rat race.
 
I've always wondered how those cookies vanish...

Your system seems fine, however that PSU worries me. "Standard" is a very broad definition any way to check out what it is? I can't stress enough how important it is to get a decent power supply

I think you can scrap the watercooling, touchscreen fan controller, soundcard, and pointless network card. Also, what are the prices of the individual components?

" I think you can scrap the watercooling, touchscreen fan controller, soundcard, and pointless network card. Also, what are the prices of the individual components? "

Where in the world?

PC World.

I'm up to this so far: 
 
EDIT
Tweaked to include a full fat GTX 580 and 16GB of RAM
 
    Fractal Design Define R3 Titanium Grey ATX Mid Tower Silent PC Computer Case
    Item #: N82E16811352004
    $109.99

    Rosewill Xtreme Series RX850-S-B 850W Continuous @40°C ,80 PLUS Certified, ATX12V v2.2 & EPS12V v2.91, SLI Ready CrossFire ...
    Item #: N82E16817182072
    $99.99

    Intel Core i5-2500K Sandy Bridge 3.3GHz (3.7GHz Turbo Boost) LGA 1155 95W Quad-Core Desktop Processor BX80623I52500K
    Item #: N82E16819115072
    $224.99

    Western Digital Caviar Black WD1002FAEX 1TB 7200 RPM SATA 6.0Gb/s 3.5" Internal Hard Drive -Bare Drive
    Item #: N82E16822136533
    $89.99
 
    SPARKLE SXX5801536D5NM GeForce GTX 580 (Fermi) 1536MB 384-bit GDDR5 PCI Express 2.0 x16 HDCP Ready SLI Support Video Card
    Kingston HyperX 16GB (4 x 4GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model KHX1600C9D3K4/16GX
    -$15.00 Instant
    -$45.00 Combo
    $25.00 Mail-in Rebate14-187-125  
    $694.98

    Kingston DataTraveler 102 4GB USB 2.0 Flash Drive (Green) Model DT102/4GBZ
    Item #: N82E16820139250
    -$8.99 Saving

Subtotal:   $1,344.93
3 day shipping:   $0.00
Grand Total:   $1,344.93 
 
Building is not hard in the least, and hasn't been for about 15 years, what with colour coding and clear labelling on components and motherboards.

Slightly worse than Jeff's setup (as his is a 570). Motherboard and memory have nothing to do with performance in games, if you're going to spend extra money, spend it directly on the graphics card. Your 8GB Corsair Dominator will barely give you a single fps performance advantage over 4GB non-Dominator. There's also no point in a network card, and barely any point for a sound card (speakers >>> sound card). The power supply is also a little sketchy if they're not giving you any sort of description. 
  
If you cut out the excess expenditure I mentioned above, you'd save yourself ~$200, which could practically get you GTX 560 SLI or a single GTX 580 if you were so inclined. 
  
Also, unless you're a heavy overclocker there's zero point in getting that motherboard, in which you could save additional money. 

There is no way you will need close to 16GB of RAM, put that money to use somewhere else.  Modular power supplies are cool, so is a faster drive for your OS and some games if you can find the money.

Here I'll list prices. And truthfully, I doubt no matter how easy it is to put together a computer.. I will end up screwing something up. I'd rather just have it made, and not have to worry about it. The reasons I went with the soundcard, is because I have a good pair of Sennheiser headphones and really need that extra boost in fidelity, and my Klipsch speakers will benefit as well.  The mobo (I want to eventually have the capibility to run SLI) is something I wonder about, the power supply is something I can work on, but couldn't find a way to fit a better one in without losing much.
 
I just started with Special A, and picked stuff out from there.  Now i'm not attached to ibuypower.com or anything.. but it was the first place i'd checked that will put it together for me. 
The cooling is kinda part of the special, and the touchscreen isn't too expensive and might be kinda neat. Network card, power, mobo, and ram was the areas of main concern. The ram worries me a bit, because the pictured ram doesn't look like it has any heat spreading, unless it's the dominator ram. My thinking is with the cooling, it might help to keep the computer running better, for longer. I'm not going to get into extreme overclocking, but with the better cooling I was hoping to do a little. My main uses will be light gaming, but I'd also like great sound, something that will last me, and still be snappy. I don't know if any other sites have a better lineup of parts for cheaper.

bump?

Rosewill Power Supply?
 
That's the only questionable piece of hardware in your rig.  

I'm not trying to take the wind out of your sails, but if you are buying this to get ready for BF3, then maybe wait until the nVidia's 600 series is released? Rumors are saying June. Also if you wait about 4-6 months, you can hold out for the Ivy Bridge processors as opposed to the current Sandy Bridge ones. The Ivy Bridge will have better ramifications for gaming.  
 
 I'd suggest checking out NCIX. You choose the parts, and they build it for a $50 fee. I too am planning on building/buying a new system this year, but I'm going to hold off until Q3.  
 
Edit: Rumors are saying announcement in June. Sept-Oct for the release, I'd guess.

" @bukkookkub:  Are you saying you are keeping your soundcard and network card, yet not getting a decent PSU? Don't cheap out on the PSU, it is holding EVERYTHING together, you lose that and you can lose everything. I literally just woke up, so not sure if I am reading that right. "

" I'm not trying to take the wind out of your sails, but if you are buying this to get ready for BF3, then maybe wait until the nVidia's 600 series is released? Rumors are saying June. Also if you wait about 4-6 months, you can hold out for the Ivy Bridge processors as opposed to the current Sandy Bridge ones. The Ivy Bridge will have better ramifications for gaming.  
 
 I'd suggest checking out NCIX. You choose the parts, and they build it for a $50 fee. I too am planning on building/buying a new system this year, but I'm going to hold off until Q3.  
 
Edit: Rumors are saying announcement in June. Sept-Oct for the release, I'd guess. "

If you're a multitasker with dual monitors and has stuff running while you play games, or maybe also are an artist and use modeling programs= More Ram 
If you're single monitor and keep things simple = Focus on the GPU, upgrade to 570.

Welcome Back to the PC Universe.

 Realtek® ALC892 8-Channel High Definition Audio CODEC
- Absolute Pitch 192khz/24bit True BD Lossless Sound
- BD Audio Layer Content Protection
- Supports Jack-Detection, Multi-streaming, and Front Panel Jack-Retasking
- Optical S/PDIF out port at back I/O

- Playback: Stereo/Surround: up to 24bit/96kHz
- Recording: up to 24-bit/96kHz
- SPDIF: up to 24-bit/96kHz
- Windows Vista/UAA (Universal Audio Architecture) Compliant
- Full Height, PCI Express 1x card

I dunno why. I'd got my system in 2008, with  just  a humble little geforce 8600 gt and core 2 dua @ 2.2 ghz, and I haven't u[graded it since, and it runs ALL current games at at least medium settings and smooth framerates. I also do plenty of video editing (tho it does slow down then)
Im a happy man

 Are you thinking about the same budget? or going more hardcore? If so.. i'd like to know what you end up with. Maybe it'll help put things into perspective. "

Nice set uo I'm about done with pc gaming to much of a pain in the ass to get games to work corectly espicaly when you want to play everything on max.

I think that's a good build OP, but you probably overspend on the mobo and underspent on the video card. 

PC GAMEZZ!!!!!!!!!!!!!

Wishlist

BEWARE THIS IS ALL OPINION AND PREJUDICE (really, c'mon what were you expecting)
 
This may all change...
EDIT: THESE ARE NOT PC-ONLY
EDIT: THIS IS FOR THE FUTURE NOT FOR 2011 

1st place#

	1. Portal 2 I ♥ Valve.
	2. Batman: Arkham City I ♥ Rocksteady. I'm working on getting all of the Riddler challenges.
	3. Duke Nukem Forever DNF is the most fun looking game I've ever seen since Amped 3 or snake
	4. BioShock Infinite http://www.giantbomb.com/ten-minutes-of-bioshock-infinite/17-3257/ OMG DID YOU SEE THAT.. THAT BELL LIKE SMASH DOWN THEN THERE WAS LIKE THE CRAZY WAVY STUFF ON THE SIDE!! AND SHE WAS SWEEPING IN FIRE AND THERE WAS THE HOOK AND SMASH PEOPLE AT 100MPHS!! AND THERE WAS THAT PART WHERE HE CAUGHT THE CANNON BULLET THING AND IT WAS RED HOT AND IT EXPLODED INTO THAT DUDE WHO SHOT IT AND THEN THERE WAS THE CRAZY WEATHER STUFF WITH THE PLASMIDS AND THERE WAS THAT HANDYMAN AND THEY DESTROYED THAT BRIDGE THEN THEY WERE ALL LIKE "Is that it" AND THEN SHE WAS ALL LIKE "No"...
	5. Deus Ex: Human Revolution Black and Gold is a great choice of colour palate. And I love the gameplay that I've seen of it so far. It's like mass effect 2, times infinity.
	6. The Witcher 2: Assassins of Kings This may become the best RPG ever made.
	7. Mass Effect 3 Finish the fight!! Man playing through the 4 different save games of Mass Effect 2 is gonna be a bitch.
	8. The Elder Scrolls V: Skyrim I ♥ Elder Scrolls
	9. Bastion 5 people being awesome and a bloody awesome narrator.
	10. Battlefield 3 I hope DICE do better than the Medal of Honor's multiplayer. Snipers at the ready.
	11. StarCraft II: Heart of the Swarm Very Very awesome story.
	12. StarCraft II: Legacy of the Void Very Very awesome story.
	13. Rage Debut Trailer - http://www.destructoid.com/first-trailer-for-id-s-rage-needs-more-cyberdemons-37522.phtml
	14. Spec Ops: The Line "Spec Ops: The Line is an upcoming narrative-driven military-themed third person shooter set in Dubai in the aftermath of destructive sandstorms."
	15. Max Payne 3 I know nothing about Max Payne and I'm gonna keep it that way till 2 weeks before this comes out where I will play through all the games before then and roll onto Max Payne 3. Rockstar Vancouver I hope this is awesome.
	16. Brink Parkour is awesome.. So is trying to shoot people in the head while they are moving really fast. Oh wait that doesn't.. I don't think I'll be good enough at this.
	17. XCOM ATTACK OF THE GOO OR ALIENS OR VORTEXES BUT MAINLY GOO!!!!!
	18. Tom Clancy's Ghost Recon: Future Soldier I quite liked the early Ghost Recon games. Hopefully this is as ridiculously hardcore as ghost recon games should be.
	19. Risen 2: Dark Waters Rockpaper shotgun's article made me want this slightly
	20. Aliens: Colonial Marines Gearbox Shooter Aliens Survival Horror = Some sort of crazy
	21. Diablo III ...I think I may be the only one in the world that doesn't like the Diablo style gameplay. But I'm gonna try this out anyway. Yeah, I tried torchlight, I didn't like it.
	22. Half-Life 2: Episode Three News on this is silent, therefore my anticipation for this is silent... But, when they start talking about this my excitement will be through the roof!!!
	23. Natural Selection 2 FPS and RTS!!? Could be good. Indie games FTW :)
	24. Red Faction: Armageddon Red Faction: Guerrilla for the PC was one of the most disappointing and pathetic ports I have ever witnessed. I really really hope they make this less shit.