If you're not wanting a gaming rig, you could really come up with a rig for much less than $1200. $600 could probably get you a nice AMD based rig with a lower end gfx card. But you mention the i7-920, which I do usually tend to recommend. So how important is the i7-920 to you, or would you rather spend half the money to build something that will do what you need?
Thanks to all the folks who have helped in the past few weeks. I received my parts on Thursday and started putting everything together Friday night. Successfully booted the new pc at about 12 midnight. By 1:30am I have the OS installed and everything working. Once again, a big thank you to everyone, you guys have been really helpful. Here is my new desktop
GIGABYTE GA-X58A-UD3R LGA 1366 Intel X58 SATA 6Gb/s USB 3.0 ATX Intel Motherboard
SAPPHIRE 100283L Radeon HD 5770
G.SKILL 6GB (3 x 2GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666) Triple Channel Kit Desktop Memory Model F3-10666CL7T-6GBPK - Retail
Sony Optiarc 24X DVD/CD Rewritable Drive Black SATA Model AD-7240S-0B - OEM
Microsoft Windows 7 Home Premium 64-bit 1-Pack for System Builders - OEM
Arctic Silver 5 Thermal Compound - OEM
XIGMATEK Intel Core i7 compatible Dark Knight-S1283V 120mm Long Life Bearing CPU Cooler - Retail
COOLER MASTER RC-690-KKN1-GP Black SECC/ ABS ATX Mid Tower Computer Case - Retail
CORSAIR CMPSU-750TX 750W ATX12V / EPS12V SLI Ready CrossFire Ready 80 PLUS Certified Active PFC Compatible with Core i7 Power ... - Retail
Grats on the new system, I'm very happy to see you decided to go with an i7-920. I love mine, it overclocks like a monster, not to mention was easy to OC, even for a noob like myself. Enjoy the great PC, thanks for the update.