*For the rest of option 2, there is no CD drive, case, or hard drive because Option 2 is obviously more expensive. I already have those parts, and would be willing to deal with them. And for power...I have two 500 watts, I can use them together in my case, and get adapters.
My only real concern is:
-Am I missing anything really important?
-Is the Core i7 950 really THAT much better than the 920 to be twice as much money?
-And if I get the 950, do I have to get more expensive parts to really see a difference?
Also, I know the motherboard and Video is the same for both options.
If the 950 isn't all that great, I'll just get a whole new computer. That way I can sell the old one, or something. Besides, my hard drive and other components don't have a lot of life left..
I would go with Option 1 & sell your current computer for extra money if you want...
The cost difference between the Core i7 950 and Core i7 920 isn't worth it... IMO. The Core i7 920 will easily OC to the speeds of the Core i7 950 at half the price. I would change a few things on Option #1 though.