Advice on new build for Gaming/Music Recording and Editing

Hello, I'm brand new here and would love some advice from the community on two prospective build ideas. I would primarily use the PC for Gaming and Music Recording and Editing. Here they are

PC Build 1:



ASUS P6X58D Premium Motherboard
Intel Core i7-950
COOLER MASTER RC-692-KKN2 CM690 II Case
EVGA GTX 470
CORSAIR CMPSU-750TX 750W Power Supply
CORSAIR DOMINATOR 6GB (3 x 2GB) 240-Pin DDR3 SDRAM
SAMSUNG Spinpoint F3 HD103SJ 1TB 7200 RPM Hard Drive
Windows 7 Pro

Total Cost on Newegg: $1,419.92


PC Build 2:


ASUS M4A87TD EVO AM3 870 SATA 6Gb/s AMD Motherboard
XFX Radeon 6870
AMD Phenom II X4 965 Black Edition
G.SKILL Ripjaws Series 4GB (2 x 2GB) 240-Pin DDR3 SDRAM
COOLER MASTER RC-692-KKN2 CM690 II Case
CORSAIR CMPSU-750TX 750W Power Supply
SAMSUNG Spinpoint F3 HD103SJ 1TB 7200 RPM Hard Drive
Windows 7 Pro

Total cost on Newegg: $1,024.92

So basically the two things I'd like to accomplish are:
1. Have a PC that's somewhat futureproof   with today's games and upcoming games like RAGE.

2.Be able to multi-task with recording music and editing large audio files.

The big quesiton I guess is PC build 1's performance worth about $400 more to you?

Feel free to replace any current parts with one's that you feel are superior for either build. Keep in mind though I'd like PC Build 1 to stay around $1500 and build two to be around $1000

I don't upgrade often as my current PC is a pentium 4 3ghz with a 128mb radeon 9800 pro! So suffice to say either build will be a huge leap!  

Thanks!