What do you think about this custom PC?

Ok, let’s see if we can shave some $$$ off on what you have listed or offer some other tidbits for you to look at for this build.

CPU from Microcenter is good choice, is that the DO stepping.

Check out this Graphic card from NewEgg, might save you a couple of dollars.
XFX HD-489A-ZDFC Radeon HD 4890 1GB 256-bit GDDR5 $194.99 Free Shipping*
http://www.newegg.com/Product/Prod [...] 6814150359

Good price on case from Microcenter and good choice.

Same goes for PSU from Amazon.

Would suggest you get one of these two OCZ kits, even though they will be a bit higher in price.
OCZ XMP Ready Series 6GB (3 x 2GB) 240-Pin DDR3 SDRAM DDR3 1600 OCZ3X1600LV6GK $109.99
($99.99 after $10.00 Mail-In Rebate) Free Shipping*
http://www.newegg.com/Product/Prod [...] 6820227388

OCZ Gold 6GB (3 x 2GB) 240-Pin DDR3 SDRAM DDR3 1600 OCZ3G1600LV6GK $99.99 ($89.99 after $10.00 Mail-In Rebate) Free Shipping*
http://www.newegg.com/Product/Prod [...] 6820227365

OCZ Summit price looks good, but would also suggest you take a look at this one from OCZ.
OCZ Vertex Series OCZSSD2-1VTX60G 2.5" 60GB SATA II MLC Internal Solid state disk (SSD) – Retail $229.00 ($199.00 after $30.00 Mail-In Rebate) Free Shipping*
http://www.newegg.com/Product/Prod [...] 6820227394

Price for WD 1TB Caviar Black is comparable to NewEgg and very good choice.

Again price at Amazon beats NewEgg, this time on your Mobo selection, but here is where I can save you some money by using NewEgg Combo’s.

Combo Option #1
1. OCZ Technology, Inc. OCZ3X1600LV6GK: $109.99
2. ASUS P6T SE: $209.99
Combo Discount: -$22.00

Combo Price: $297.98
$10.00 Mail-In Rebate
$15.00 Mail-In Rebate
http://www.newegg.com/Product/Comb [...] mbo.209932

Combo Option #2
1. OCZ Technology, Inc. OCZ3G1600LV6GK: $99.99
2. ASUS P6T SE: $209.99
Combo Discount: -$22.00

Combo Price: $287.98
$10.00 Mail-In Rebate
$15.00 Mail-In Rebate
http://www.newegg.com/Product/Comb [...] mbo.209928

Now there are some other Items you will need for this Build, I will list them below.

You will need this Power extension cable when using bottom mounted PSU case, unless you rather have 8-pin power cable running across the length of Mobo.

1ST PC CORP. 12" 8-pin EPS extension cable Model CB-8M-8F – Retail $7.99
http://www.newegg.com/Product/Prod [...] 6812706004

Next up is Thermal Compound and Thermal Compound Cleaner.
Noctua NT-H1 Thermal Compound - Retail $9.99
http://www.newegg.com/Product/Prod [...] 6835608008

Tuniq TR-1 High Performance Thermal Material Remover – Retail $6.99 ($1.99 after $5.00 Mail-In Rebate) Free Shipping*
http://www.newegg.com/Product/Prod [...] 6835154006

Now you could stay with the stock Intel CPU HSF Cooler, if you will not be Overclocking. But if you do want to OC, then I would suggest this CPU Cooler.

Scythe MUGEN-2 SCMG-2000 120mm Sleeve CPU Cooler – Retail $36.99 Free Shipping*
http://www.newegg.com/Product/Prod [...] 6835185093

Here is link of one of the latest Review on Core i7 (1366 chipset) that shows how good this CPU Cooler is.
http://www.xbitlabs.com/articles/c [...] up_18.html

Subtotal for Combo Option #1, along with using the selection for Graphic card, OCZ Vertex SSD I suggested.
$1442.96 before shipping costs and MIRs' deductions.
MIRs' total = $55.00
This is also before adding the extra Items (8-pin Power Extension, Thermal Compound items and CPU Cooler)

Subtotal for Combo Option #2, along with using the selection for Graphic card, OCZ Vertex SSD I suggested.
$1432.96 before shipping costs and MIRs' deductions.
MIRs' total = $55.00
This is also before adding the extra Items (8-pin Power Extension, Thermal Compound items and CPU Cooler)

I hope this helps you out some, good luck on your upcoming build.

Yoosty, thanks for the detailed reply. It helped alot.