First Build Combatibility Check

It looks good to me.

However, I do suggest going for 9800GT/ 8800GT.
PSU: a single video card usually not require more than 500W. But you choice is fine.
CPU + Mobo: Good choice. Even better if going for intel...
OS: XP SP3 is out already.
 
There is one glaring problem that everyone is missing here....amount of ram and Windows XP.

OP, if you're going to use 4GB's of ram then you have to get Vista 64 bit in order for the full amount of ram to be used. XP is a 32 bit operating system and can only handle up to 4GB's of ram, including video card and system memory. In other words, with the ram and video card you have, your system will only be able to use about 3.25GB's of ram.
 
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