$800-$1000 i5 build

APPROXIMATE PURCHASE DATE: ~Next week. $800-$1000 budget. At this point, I'd like to try to get away with staying closer to $800 than to $1000.

SYSTEM USAGE FROM MOST TO LEAST IMPORTANT: Gaming will be the limiting factor. (doesn't have to be able to play 2010 games on max, though it be nice). But more importantly, I want this PC to last a while, so if paying a bit more for better quality parts (even if they don't perform much better) is fine.

PARTS NOT REQUIRED: No monitor, keyboard, or mouse needed. Just the case and components.

PREFERRED WEBSITE(S) FOR PARTS: Newegg, fry's; bigger names pretty much.

PARTS PREFERENCES:
Case $70:
http://www.newegg.com/Product/Product.aspx?Item=N82E168...

CPU+Motherboard
$315:
http://www.newegg.com/Product/ComboDealDetails.aspx?Ite...

GPU+Power Supply
$220:
http://www.newegg.com/Product/ComboDealDetails.aspx?Ite...

RAM
$100:
G.SKILL ECO Series 4GB (2 x 2GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666) Desktop Memory Model F3-10666CL7D-4GBECO

Cooling
$30:
COOLER MASTER Hyper 212 Plus Intel Core i5 & Intel Core i7 compatible RR-B10-212P-G1 120mm "heatpipe direct contact" Long life sleeve CPU Cooler - Retail

CD/DVD
$30:
LG GH22NS50

HDD
$50:
Western Digital Caviar Blue WD3200AAKS 320GB 7200 RPM SATA 3.0Gb/s 3.5" Internal Hard Drive -Bare Drive

Total:
$815

OVERCLOCKING: No, maybe crossfire later down the road but not a sticking point

MONITOR RESOLUTION: Not too sure what the resolution will be but the monitor I will be using is a widescreen 22inch.

ADDITIONAL COMMENTS: This is the first time I build a PC so my knowledge of the whole process is pretty limited. I know the least about motherboards so any help in choosing is greatly appreciated. Not sure if it makes a difference if I get one of the newer motherboards but I'd like to be able to add an SSD drive and/or a Blu-ray (not burner) drive in the future. Lastly, a really dumb question, what is thermal compound used for (is it needed)?

Thanks so much for any advice.