I think it looks pretty good there. I would suggest finding an AMD dual core, but it looks like that's a pretty good package there. As for the video card, if you're not looking to be doing any very intense gaming the nVidia 9800GT could work well for you ($129.99 while on sale for $30 off).
I really was not sure because of the new AMD budget X4's that came out if I wanted to do that and save money for a video card but I've never been one to run at high res/everything turned on anyways. I needed the confirmation on best budget CPU/MB/Ram with upgrade options for me.
Not sure if I could sell the Gift card maybe but I found this card at Bestbuy it seems to be the same only a little more $$
With the parts you've chosen, $100 for a video card at Best Buy probably won't be enough even for a 4650. Considering what you have now, the following would offer much better performance, and offer an obvious upgrade path:
Dual core CPU, overclocks well. There's a chance to unlock additional cores, but consider that icing on the cake, not a reason to buy it:
AMD Phenom II X2 550 Black Edition Callisto 3.1GHz 2 x 512KB L2 Cache 6MB L3 Cache Socket AM3 80W Dual-Core Processor - $102
http://www.newegg.com/Product/Prod [...] 6819103680
Crossfire-capable mobo. Has a good IGP on it (HD3300) that may be adequate for general use, and if not will provide a baseline that will help you decide how much of an improvement you need. It is currently the fastest IGP out there, and can actually play some games with settings lowered:
GIGABYTE GA-MA790GPT-UD3H AM3 AMD 790GX HDMI ATX AMD Motherboard - $115
http://www.newegg.com/Product/Prod [...] 6813128398
DDR3-1333 may be enough of an improvement to be worth the additional cost; a jump to 1600 may not be worth any more.
G.SKILL Ripjaws Series 4GB (2 x 2GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666) Desktop Memory Model F3-10666CL7D-4GBRH - $89
http://www.newegg.com/Product/Prod [...] 6820231276
Total is $306. There's a rebate on the mobo; I never count those.
I'd rather have a 720BE too, but a faster CPU can always be a future upgrade. Compared to what you have, even a Regor would be a big improvement.
Transmaniacon has a point; if you can sell the Best Buy card for [close to] its face value, you could get the 720BE.
Especially if you're willing to save more for the video card, I'll stand by my suggestion of the 790GX mobo.
what operating system are you using? a 64 bit version of windows? What power supply were you going to use with the build? I'm not really informed enough to help you but I think that info will help others make quality suggestions.
The 790GX is Crossfire-capable and has the HD3300 IGP on it. The 770 has no IGP, and only supports one video card, which you would have to buy right away. If you were satisfied with how your games played, you would never need a separate video card on the 790GX; if you weren't though, you could upgrade even up to a Crossfired pair of video cards.