High quality q9650 build or cheap quality i860 build?

until just recently i was using a amd athlon 5200+,felt the need for a new build and i managed to put $640 away for a build i did end up buying a ..
q9650=$320 from fries+tax
asus rampage x48=$240 local computer shop,love the specs of this mobo and fries had nothing for a selection as far as 775 goes i did original plan to build a core i7 i860 build but ive came up with a qoute that appears to not fit my budget..
i860=$289
intel p55 mobo=$104<to bland and boring compared to my rampage 
ddr3 kit=$100 at least?
decent psu =$100?
after market heatink=$50,used to own a core i7 i940,i know how hot they run,ended up selling machine
add in roughly $50 sales tax
ive come to about $694-$700 budget was $640,think my q9650 and asus rampage board for $580 was a good buy?im using high name ballastic ddr2 800mhzs memory running at 4,4,4,15 timing fsb and cpu ratio 1:1,any thoughts on this or a possibly cheaper build,or does my higher quality 775 build warrant not gathering $60 more to build the cheapest i860 possible?