Is this what I need?

you will deffinitely need Ps and Fl...like...master them...
but...first thing's first: not enough hdd...add some more...even if only for storage purpose...you should havethe 500GB HDD split smth like this:
-60 giga for the system partition
-40 fo' the temp partition(environment variables-edit the line temp and designate the partition)...you'll have a network connection...and for other reasons too...so instead of searchin and clearing all the "temp files", you format the partition whenever you have a virus or it's full...temporary *** will not go into your system...
-the rest for the installed apps and scratch disk of adobe apps...page file, other sys requirements
for warranty issues add 1TB SATA external disk
CPU is a fast one...RAM should be enough, you're running a 64 bit vista, so it will be real 4 GB of sys memory...
you will have more than one app open at the same time almost allways...
if you have the money...go and construct one more powerfull...if not, this will be a more than decent machine to start off...
good luck