Thanks for the responses. The i7 950 + GTX470 is probably what I will go with for now and add another 470 later down the line. This lineup saves me some coins and the benchmarks I've looked at makes it look like the 470 and 5970 trades blows up and down the graphs; I dunno if its worth the money for the 5970 when I can SLI at a comparable price.
At 1920 resolution, a i5-750 with a mild overclock to 3.0 and a GTX480 would be a fine combination that would cost less than either of the two options you mentioned.
The x6 1090T is not a particularly good gaming cpu. It is better used for multi core enabled applications.
The 5970 is a great card, but it is expensive and probably more than you need.
The i7-950 and GTX470 will be good, and give you the option of sli later. But... it is more likely that a better/cheaper/video card will appear in a year or two and make such a sli ugrade a poor choice in the future.