[Solved] Budget Gaming Computer

Hello all! This is my first time wading into the jungle of building my own computer. I know more than the average person but probably less than all of you about computers, how they work and such. I currently have a dell m1210 laptop with 2ghz, 2gb ram, and a nvidia 7400go video card. I am tired of only being able to run games like TF2, L4D and Borderlands at low settings and low resolutions. Thank you all in advance!

APPROXIMATE PURCHASE DATE: by the end of the year

BUDGET RANGE: 400-500 After Rebates

SYSTEM USAGE FROM MOST TO LEAST IMPORTANT: Gaming, everything else is secondary (i have a ps3 for other media)

PARTS NOT REQUIRED: monitor, mouse, keyboard, speakers *

PREFERRED WEBSITE(S) FOR PARTS: I dont really know which ones are good
COUNTRY OF ORIGIN: United States of America

PARTS PREFERENCES: I have no parts preferences, I just wanna get the job done

OVERCLOCKING: No

SLI OR CROSSFIRE: No

MONITOR RESOLUTION: 1600x1200

ADDITIONAL COMMENTS: I would like to be able to run Borderlands at 1600x1200 at at least medium settings across the board
Thanks again!

What site should I go to look at prices?

so i went to newegg and built the system you ssuggested, and it is about $150 out of my range, any suggestions?

thanks a bunch that is pretty much exactly what i am looking for

well thank you to them as well