I would strongly suggest 2 GTX 460s of a quality brand like EVGA or MSI. Palit makes decent stuff, but it's not always put together well. Two 460s outperform a single 480 for the same price. I have the EVGA External Exhaust models with the lifetime warranty. I was also able to save a few bucks by getting the stock cards and OCing myself (it's very simple; I can help you with it).
Going for the 1156 i7 series isn't work the money. The most recommended Intel CPU for budget gamers is the i5-760. It's also easily overclockable from what I've heard. I would try to find a combo with that CPU.