So this is what I'm looking at for my new build which is intended to be for video editing and graphic design. I included all the links to the parts on newegg.com. The price is a bit higher than what I'd prefer. Right now this adds up to around $1400. Is there anywhere I can make cuts to cheapen it up with out affecting the performance of the computer?
You've got a major problem with that build. You've put in DDR2 when you need DDR3. You'll also want a Triple channel kit (3 sticks).
Another potential problem is that PSU. It's small and an absolute POS. Don't bother with any brands that aren't Antec, Silverstone, SeaSonic, Corsair or XFX if you want something that's good quality.
I'd recommend following the guidelines (the link is in my signature). I'm positive we can put together something that's better and will actually work.
As for the OS, definitely go with Windows 7 64-bit. Don't even bother with the other versions. I would either go with Home or Pro, but I can't state the exact differences off the top of my head. Take a look at Microsoft's website for what features each offer and see what you need.
Thanks for that link MadAdmiral. In case looking through those selected parts didn't give it away, I'm a COMPLETE moron when it comes to this haha. Thanks again though for your assistance. Definitely looking forward to learning some new stuff from all of you here.