Video Encoding Intel i7

Hello, I am looking to build my first ever system, and could use some input. I will mostly use this system to rip and encode dvd's and Blue rays (WMV w/ 5.1 audio), making them playable on XBOX 360's that act as media center extenders for my TV's. I plan on purchasing Windows 7 Ultimate 64-bit, on top of my budget. Not sure what software I will be using for the video encoding, I guess what ever can best utilize the system I build.


APPROXIMATE PURCHASE DATE: Within the week.

BUDGET RANGE: $800-$1000 for CPU, MOBO, CASE, POWER SUPPLY, VIDEO CARD, HDD

SYSTEM USAGE FROM MOST TO LEAST IMPORTANT: Video Encoding, Link to Xbox 360 to host movies

PREFERRED WEBSITE(S) FOR PARTS: No preference, mostly been looking on TigerDirect.com

COUNTRY OF ORIGIN: USA

PARTS PREFERENCES: From what I have read the Intel i7 920 is the way to go for encoding

OVERCLOCKING: If I can figure it out, which I plan to.

SLI OR CROSSFIRE: I honestly do now know what this refers to.

MONITOR RESOLUTION: For about the next year I plan to connect this to a 50" Panasonic Plasma 720P TV.

ADDITIONAL COMMENTS: Would like a quiet PC as it will be in the living room and running 24/7

My best guesses have led me to:
Intel i7920 $279.99
Gigabyte EX58 $189.99
Ultra LSP750 750-Watt Power Supply $49.99
Corsair XMS3 Tri Channel 6GB PC10666 DDR3 Memory $134.99
Ultra M923 Case $100.00
Western Digital Caviar Green WD10EADS Hard Drive - 1TB $84.99
No clue on selecting a video card, would like an HDMI out.

I appreciate any suggestions you may have, all of this is pretty new to me but I'm learning, slowly.

Thanks again.
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  1. Thanks for the fast reply, a few questions.

    Will the AMD processor be enough to efficiently encode videos? I guess that is my main goal, I would like to reduce the time it takes for that process.

    Also, what is the advantage/reason behind a separate HDD for the OS? I have seen that a lot in custom build suggestions.

    Thanks again
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