Need help building a new system

Hello everyone. I am currently in the process of trying to put together a budget gaming system for UNDER $550. I live in Europe if that plays a part in from where the items are purchased. Here is what I will need:

MOBO - need 4 RAM slots for use of 4GB and room to upgrade to a decent CPU a year from now. I would prefer one that is capable of doing dual cards down the road but don't know how realistic that is. I have no idea which chipset is best with corresponding CPU types for my budget

CPU - Intel or AMD although I prefer Intel. I am also up for overlocking if it is safe and within the means of the hardware chosen if that makes a difference

VIDEO CARD - mostly for playing MMO's but some FPS as well. Will be used with a 17" or 19" Monitor. I can always upgrade this several months later but looking for at least a DDR3 card.

RAM - 2x1GB kit nothing larger since I plan on adding another 2x1GB kit a few months down the road when budget permits

Case/PS - PS doesn't neccessarily have to be good enough for the upgrades I would like to do in the future but rather just be good enough for this current system

HDD - nothing smaller than 500GB

I used to build computers years ago but it has been some time now and I admit I am a little out of my element and definitely need some advice from those who know far more than I. I welcome all feedback and am ready to answer any questions any of you all may have. Thanks in advance and look forward to hearing from you all!

If you're only going to be using a 17" or 19" monitor, don't bother with the dual video cards. Any improvement you see won't be worth the much greater price premium.

Since you're looking to upgrade the CPU in a year, I would say to get a E2160/E2180 with most likely a Gigabyte GA-P35-DS3L motherboard.

To really help you, we'd need to at least know what currency your $550 budget is in. Also, will you need to get a new OS or optical drive?

^ Agreed. Get E2180 OC to 3Ghz easily with a P35-DS3L any you are pretty much set until Nehalm becomes affordable .

If you decide to get a P35-DS3L and want help OCing checkout:
http://www.tomshardware.com/forum/ [...] w=0&nojs=0

Ok so I think I have a finsihed build. Please any feedback would be wonderful!

MOBO: Gigabyte GA-P35-DS3, Intel P35, FSB 1333 ---> $136

http://www.digitec.ch/ProdukteDeta [...] kel=135872

CPU: Intel DUAL-Core E2180, 775P,800MHz,1MB,65nm,Fan,BOX ---> $83

http://www.stegcomputer.ch/details [...] =int-e2180

RAM: Corsair TWIN2X2048-6400C4, 2x1GB, DDR2-800, CL4, 4-4-4-12 @2.1V ---> $66

http://www.digitec.ch/ProdukteDeta [...] kel=120274

VIDEO: XpertVision GeForce 8600GTS, PCI-E, 256MB GDDR3 ---> $77

http://www.digitec.ch/ProdukteDeta [...] kel=134458

HDD: 500GB,SATA-II,WD5000AAKS, SATA-300, 7200/ 8,9ms/ 16MB ---> $100

http://www.stegcomputer.ch/details [...] -wd5000aks

DVD: Lite-On LH-20A1L, 20x DVD±RW, DL, LS, schwarz, SATA ---> $42

http://www.digitec.ch/ProdukteDeta [...] kel=147218

CASE: L-Case Duro-1, Midi-Tower, black/silver, 400Watt ---> $57

http://www.digitec.ch/ProdukteDeta [...] kel=122821

Total cost = $561 (Swiss Francs)

All items purchsed from the following 2 sites because I do not know of any better/cheaper ones that ship to Switzerland.

http://www.digitec.ch/
http://www.stegcomputer.ch/shop.asp (This one is local and online)

I used a wattage calculator from asus's website that told me with what I have chosen that the minimum recommended PSU is 350W. I do not plan on upgrading anything without also upgrading the PSU at that time.

Does this all look OK? Is everything compatible? Looking forward to hearing feedback and please keep in mind that (as far as I know) my options are a bit limited on where I can buy from and what is available to me.