Hi there.
1) You really need Raid 1 for data safety. If 1 drive fails in Raid 0, you lose ALL your data.
2) You don't need Raid 0 for video editing. This is a major misconception. Fast read/write speeds are needed if you are working with Film and/or uncompressed raw footage. Just find an ad for a preconfigured raid setup for Video Editing and you will see most of the time that it doesn't say the MB/s but it does say how many uncompressed HD or SD streams it can handle at the same time. A recent project of mine using Adobe After Effects lasted 13 seconds and had to be imported into Premiere Pro so no need to compress it. That 13s was 1GB in file size uncompressed. If you don't know or want to know what Cineform, Canopus HQ or Apple Pro Res are, then you don't need blazing drive speed.
Another example, a Blu Ray movie at 32 megabit is 4MB/s. A Canon handheld cam AVCHD is 24Mb = 3MB/s. The Sony EX-1 semi-pro HD cam is 35Mb = 4.5MB/s. HDV is 25Mb = 3.1MB/s. An average 7200rpm drive = average read/write= 80/75MB/s
3) You do need a good video card, especially with so many programs coming out with CUDA support for video encoding. You need a nvidia video card and at least the 9800GT for a few reasons: 1-many video editing programs support GL acceleration which helps BIG time when editing a video and working with effects; 2-CUDA is nvidia's programming code which allows software to utilize the massive number crunching power of their video cards. Only a handful of programs can use CUDA at the moment but there are more and more programs coming out with support. 3-Photoshop CS4 and Bridge support GL acceleration using current nvidia cards and it is sooo awesome being able to instantly render my raw photos in Bridge.
4) i7 is the future for Intel because it uses their new 1366 LGA socket and new CPU's from Intel will use this, and not the previous 775; so, if upgrades are in your very near future, then this is the way to go. However, the i7 motherboards are still expensive and the cheapest i7 cpu is the 920 @ $280 ($220@ microcenter). You can buy a good 775 board + Q8200 for under $300 and OC it to 3.0GHz no problem. For video editing/encoding, the new i7 cpu's do not add anything that make them much faster than the Q8xxx/Q9xxx series. You certainly don't want the older Q6xxx cuz they don't have SSE4.1 support which is a set of instructions designed for video encoding. Divx uses SSE4.1 and shaves about 40-50% off encode times. For your budget, I would certainly go with this mobo:
ASUS P5Q Pro LGA 775 Intel P45 for $130
http://www.newegg.com/Product/Product.aspx?Item=N82E16813131299
and the Q8200(2.33GHz) or Q8300(2.5GHz)- this mobo can be bundled with a Q8300 for $305($15 off) at newegg. Also, Q8200 is on sale @ microcenter for $99.
In a year or two when you decide to upgrade, you can get a CPU & mobo that are faster than the i7 for less money.
-Zalman 9700LED for $35;
-4GB(2x2) DDR2-1066 for $40-45(you need 1066 to OC the Q8300 because the FSB will be too high for DDR2-800 ram)
-PC Power & Cooling S61EPS 610W @$105 w/$25MiR or a Corsair of similar power(500w+) and efficiency(83%+) you don't want to get a case with PSU already installed cuz if that PSU dies, then you need to send both the case & psu back. You want top quality because a bad PSU can destroy your entire system and PC P&C make the best PSU's.
-Case - whatever you choose, make sure there is good airflow throughout and great airflow for the hard drives.
- 2 - 1TB drives from Seagate($180, 100MB/s) or WD($220, 85-90MB/s). whatever you do, create the C partition using ONLY the first 70-80GB because short stroking will provide Much faster startup and program access. Create how many ever partitions for the rest. T'sH just did an article on short stroking so check it out if you like.
I went ahead and created a wishlist @ newegg for you and it costs $920 without MiR's.
http://secure.newegg.com/WishList/PublicWishDetail.aspx?WishListNumber=15247707
You could sub the case for the Antec P182 for $20 more. Both cases have good airflow and have insulation. I have the P180 which is almost identical and it is rather quiet for all the fans inside and all my drives.
The Q8200 is there cuz their Wishlist doesn't allow combos so no real price difference.
I included the GTS 250 instead of 9800GT because they are the same price but the 250 has better performance AND blows hot air out the back.
If you don't game, you really should try it for the fact this rig is a ROCKET! 
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