Budget gaming pc - $800-ish USD before display/OS

The title pretty much says it all. I'm looking to build a gaming PC soon and want some build advice.

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APPROXIMATE PURCHASE DATE: probably in about two weeks

BUDGET RANGE: 800, could go as high as 1000 but would prefer to avoid it

SYSTEM USAGE FROM MOST TO LEAST IMPORTANT: gaming, general use (internet, movies, etc.)

PARTS NOT REQUIRED:I have a 64GB SSD, but I'd like to get another drive for data. I also have a copy of Windows and I'll shop around for a display on my own.

PREFERRED WEBSITE(S) FOR PARTS: newegg, but any reputable vendor with good prices and return policy is fine

PARTS PREFERENCES: whatever offers best price/performance; I'd prefer to avoid dead sockets and legacy parts, so socket AM3 or 1156 and DDR3 seem like good choices. Leaning toward a Phenom II X3 720 Black Edition (easy OCing, should be fast enough to keep up with my GPU in demanding games, $80 cheaper than an i5) but not heart-set on it.

OVERCLOCKING: Yes, just a simple 24/7 set-and-forget OC. If I go AMD, a Black Edition seems like the natural best choice.

SLI OR CROSSFIRE: Probably not at first; I'd prefer to get one mid-end card now with SLI/CrossFire as a future upgrade option, but I could be persuaded otherwise.

MONITOR RESOLUTION: I'd like to game in 1920x1080. If I can avoid any non-GPU bottlenecks for higher end games, I'm fine with the level of performance I'd expect from a Radeon 4870 or GeForce 260 - all but the most GPU-intensive games (Crysis, Far Cry 2, etc.) should run great at either resolution, and those more demanding titles should be playable with a few compromises (turn off AA/AF, maybe drop to 1680x1050 and/or tone down a couple quality settings).

ADDITIONAL COMMENTS: I don't intend to cut corners on things like case, power supply, and motherboard. I'll probably want to invest in a quality mid tower case and a substantial power supply (700-ish watts, quality brand) for future upgrades.

I specced out a sample build on newegg, thoughts?

Case: NZXT Beta
PSU: CORSAIR CMPSU-750TX 750W
Mobo: ASUS M4A78T-E AM3 AMD 790GX
RAM: G.SKILL Ripjaws Series 4GB (2 x 2GB) DDR3 1333
CPU: AMD Phenom II X3 720 Black Edition
CPU Cooling: Scythe SCKTN-3000 92mm Sleeve "KATANA3" 3Heat Pipes CPU Cooler
GPU: SAPPHIRE 100279-1GL Radeon HD 4870 1GB
HDD: WD Caviar Black 640GB 7200RPM SATA-300
DVD: SAMSUNG Black 22X DVD Burner Black SATA

Total comes to $782.07 shipped, minus $35 in mail-in rebates. Some of those parts are on short-term specials, though, so who knows what this machine will cost in 2 weeks.
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EDIT : Dint refresh.
^ Have you heard about the new ATI cards ?
I feel you should take a look at those cards...Especially the HD 5850 for your price range...It is expected to offer the performance of a GTX 285 in the $250 range...

And you can check out this HDD - Samsung F3 500GB...
For $50 it is a very good deal...
http://www.newegg.com/Product/Prod [...] 6822152181

And $10 less for that Corsair here at Zipzoomfly
http://www.zipzoomfly.com/jsp/Prod [...] st=froogle

^ Actually it is currently listed @ $259
http://www.zipzoomfly.com/jsp/Prod [...] e=10011218

So in a month's time, it would come down a bit...I feel that is a better buy as you wouldn't have to worry upgrading for atleast 2+ years depending on your usage to take advantage of the next gen features and DirectX11...

So just first decide and then buy...

Hmm... For $259 I might consider grabbing a 5850. If the leaked benchmarks showing it outperforming the $350 GTX 285 are accurate, it'll be quite a deal at that price. That would put me comfortably into 1080p territory for any game now or in the near future.