1. You DO NOT need Ultimate version. Get home Premium and save money.
Motherboard Asus P6T Deluxe V2 289.00
Processor Intel Core i7 920 279.00
RAM Corsair XMS3 12GB PC12800 DDR3 6x2GB 229.00
Case Antec 900 ATX Mid Tower Computer Case 99.00
Power Supply CORSAIR CMPSU-750TX 750W 110.00
All above are good quality stuff there. If you live near a Microcenter, you can get the i7 920 for $200.
3. You DO NOT need a workstation card. A cheap 4670 will work fine since you are not gaming,etc. You'll need a workstation card ONLY if you are doing 3D animations,etc. You probably don't need an SSD. SSDs are pretty expensive. You'll want at least a 80GB SSD (~$250-300 for a good one like a X25-M G2).
4. What LCD (model,resolutions,etc)? This is a very important part in a vid/photo editing build. The main thing you have to worry about is: You'll probably want a LCD with 1920*1080(or better) AND good color accuracy.
5. Don't get a 1TB drive. They have quite a high failure rate compared to <750GB drives. Get a few WD 640GB HDDs in RAID 0+1. DO NOT do RAID 0.
6. Can't comment on that BD Burner as I haven't used it.
I know it's not a huge difference in cost, but saving $50 is saving $50. I do not have one personally, but roughly 2,000 people seem to like it, and it doesn't seem like you are buying anything to large as to not fit.