It's a pretty decent machine, but you aren't going to get away with a $500 if you also need OS, additional software, and a monitor. Just FYI. The build below is probably a little cheaper than you'll find because the buyer got his CPU from a Fry's special (199.0 for CPU + motherboard... the CPU costs $279 on it's own usually). So maybe you can substitute the Q6600 with an E2160 and OC w/ a P35-DS3R. Pretty good board and CPU for cheap (only if you plan to OC though)
I need only the hardware to come around the $500 mark so if I bought the 8800gt 512 MB version would I be able to buy a E2160 a P35 mobo and the remaining parts required and still stay around the budget ?
There is a topic about a $600 gaming rig which seems right around what I am expecting and also brings up valid points regarding my need to OC the system, no RAID arrays just one HDD and a single pci-e card with no future plans to sli and such.