You should go for a better CPU. Either a 9-series Dual-core Presler, or honestly an E6300 Core 2 Duo is only 185, and boards supporting it start at about 85 bucks. The graphics card will do fine, depending on the age of games you want to play. Eh, I'll let others weigh in on the rest but I would never consider building a computer TODAY with a processor that is that many generations back.
It would help others if you were to provide a budget for yourself.
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Intel 3.2Ghz P4
MSI PM8M3-V
GF FX5900XT 128MB
512 MB CXMS
Dell 20.1" Widescreen LCD
Need...upgrades....:)
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