This is what i have so far.
Remember, basis first, extras later
(i know the i7 greatly benefits from 2 video cards)

Corsair 750watt (129.99)
GIGABYTE GA-EX58-UD3R (209.99)
Intel Core i7 920 (294.99)
Vigor Monsoon III (59.99)
G.SKILL 6GB (3 x 2GB) (144.99) <--3 sticks for Triple Channel
SAPPHIRE HD 4870 1GB (239.99)

Total: $1,080

Price is actually greatly achievable.
I Want to play video games on my computer like.

-Call of duty: World at war
-Fallout 3
-Dead Space
-StarCraft II
-Diablo III
-Elder scrolls V (2010 release)

Think this rig would greatly achieve my goal of lasting for awhile?

1. It still supports triple channel, and 6 gigs of RAM (2X3) is more than enough.

2. Who cares? For most people 2 card SLI or Xfire is more than adequate.

3. Im sure even though the power circuity is just a little less, I have doubts it will effect over clocking that much.

The key word here is "budget" and I think he pretty much nailed it spot on.

Good build, will probably run anything you have on your list. And you have the option to add a second 4870 at a later date for even more power. But a single 4870 will easily max out a 1680x1050 res monitor.

A single 4870 1gb will run at 1920x1200. Id start with a single card, see how well it works, and then maybe get another one or a faster one in a year.

No PC is future proof anymore. All you can do is insulate your self for the future. Myself, I build a $1000 machine every 2-3 years and maybe throw in a upgrade if needed. The machine you have specced here is headed in the right direction. The i7 is a good CPU. You mobo will support multiple GPUs. 6 gigs of RAM shoudl last for the life of the PC. All in all, your machine should last 2-3 years. It should handle current software, COD and Fallout, with ease.

What else can you do?

Have you considered going dual core instead of quad and spending the extra money on improved graphics/bigger monitor?

sure multi-core threading...but all four cores? I don't know of many games besides supreme commander that utilize four cores. Most games are just beginning to fully utilize two...

I play Call of Duty on a Pentium 4 2.8GHz 800Mhz FSB, Intel 875 motherboard, 1GB RAM, and an ATI Radeon 9800 Pro 128MB AGP video card and it runs fantastically. Oh, and I built the computer in 2003. Who the hell needs 6GB RAM and quad core? Are you rendering 3d movie scenes? My computer isn't future proof anymore, I'm just saying you can save more money.

I would have to agree with changing the motherboard and then everything else looks find.

Crossfire in the future is nice, really. 2 HD4870s would be great for later on.
Kaldor is perfectly right, and understood my purpose of even posting this topic. I want a computer that is good now, and good in 2 years.

I don't know what graphics and technology is going to be in 2 years, no one does. Though, i do know that elder scrolls V is in development and bethesda is aiming for 2010.

I know it won't take that much greater to run because it will be on the ps3 and xbox 360 (also what they promised)

So yea, 2 years from now is what i am aiming for, with the exception of needing a new video card.

Also.. don't throw in somethin i don't need, he is right, 6gbs of ram is all i need. right now 4gbs is a overkill for games, it is more than you will need.

That build is only 1,075 dollars (US) so it is kick ass

Sure, go ahead. lol.
I honestly did not think i could get a i7 for that cheap.
To be honest when i first thought about building a computer, somehow it was in the 2k range. XD

Though.. i have no idea how i dropped 1k from the price, but eh.
Maybe cuz i was going to buy it, rather than build it first