New build, feedback would be incredibly appreciated

Do you really need that board check-out an Abit IP35 Pro great reviews and like $100 less. Also you may consider a smaller drive for the OS and put your Games, Video, mp3's, Data, etc on the 500gb ALSO that 500gb drive you selcted SUCKS look at these drives for better performance:
Seagate Barracuda ST3250410AS 250GB 7200.10 RPM 16MB Cache
Seagate Barracuda ST3500320AS 500GB 7200.11 RPM 32MB Cache

Also consider a heatsink - ARCTIC COOLING Freezer 7 Pro 92mm Cooler

EVERYTHING ELSE LOOKS RIGHT-ON... NICE SELCTIONS.

Do you plan to OC?

Also I was looking at prices of some of your components you can do the rest and you can get them cheaper at buy.com. It's a good trusted site like newegg but CHEAPER!!!

Thanks for the hard drive and mobo advice. What is the plus to having your OS on a smaller HD if it is still running at 7200?

Take two identical disk drives. Isolate (eg) your "swap file" on drive #2, and your system will perform better than if everything were on one drive. The two drives give identical performance, but your system runs faster. Whenever you can spread files needed by the application(s) currently running you will always gain performance.

Another example is if your OS is on one drive performing the normal processes and you want to play a game, watch a movie, listen to a mp3, etc that resides on another drive, then it will not slow down or "hinder" the performance of the system as a whole.

So if I buy two of these

http://www.newegg.com/Product/Product.aspx?Item=N82E168...

and run the OS on one and everything else on the other I am all set?

Or do I need to setup raid 0?

Sorry for the noob questions but it is my first build in 4 years.

Switch to a Retail version of the optical drive in order to get software with it. This will include the decoder you'll need to watch movies on it.

Yes that is correct... no RAID needed. A couple things down the road is an external drive to keep backups of your system in case it crashes but frist use ghost to image your OS drive after is is completely built with drivers and apps. Put the image on the non-OS drive and you will be set for now. If the image is below 4.7gb you can burn it to a dvd.

Sweet guys thanks for the help. Gonna get that abit mobo, two of the 500s with 32 meg cache and a retail version of a optical !

It's probably just me (since nobody else has said it), but I would get a bigger power supply. But who knows, I'm pretty new at this.

Ok... that is a possibility but I need to know if you are only going to be using 1 video card? and if you will add another 2 or more hard drives??

If you "will" be doing Crossfire or SLI now or in the future (which is 2 video cards) and adding more drives then "yes" a better psu.

ok here I am mlaporta.... 

Few things OP.

1) If going with a X38 motherboard do not get a Nvidia card. Ruins the whole purpose of the board. Get a 3870 or 3870x2 if you are considering Crossfire down the road....if not move down to the P35 chipset. Good boards are the Abit P35 Pro and Asus P5K-E

2) There are better PSU deals on buy.com. The 520 is $90 there and the 620 (for a 2nd video card) is about $115

Edit: If you already changed these, then do so in your original post, as to not confuse newcomers like me

  Glad you could make it I was about to dose off. Now it's time to "GET THIS PARTY STARTED!!!"

I think if you pull the shirt off Clark Kent you won't see Superman... you will see Silverion77  

Your original list had the 7200.10....you definitely want the 7200.11

I also like the Asus DVD over the one ya have listed

http://www.newegg.com/Product/Product.aspx?Item=N82E168...

BTW, I notice newegg discontinued the Asus "TOP" version of the G92 ... what happened there ?

I listed these if you were on a budget if not then 2 of the 7200.11

Seagate Barracuda ST3250410AS 250GB 7200.10 RPM 16MB Cache
Seagate Barracuda ST3500320AS 500GB 7200.11 RPM 32MB Cache