One... You are buying 4GB of RAM with an 32-bit system. Get Windows 7 Ultimate 64-bit (should be the same price).
Second... I would get the Samsung Spinpoint F3 500GB or Seagate 7200.12 500GB hard drives over your listed one. They should be similar in price, if not just a few dollars more.
Were are you buying from so we can review possible other components to help with price? Also, it is helpful if you use the template provided in this sticky to edit your post.... *How To Ask For New Build Advice*