1. Might want to consider a more powerful CPU such as the phenom IIx4 955 or the phenom IIx6 1055t-1090t. The Phenom IIx4 840 is actually an Athlon; it doesn't have the L3 cache the other phenoms have. All under $200.
2. Get a Samsung or Western Digital hard drive. From everything I have heard, the hitachi is not the most relable. From experience, My Western digitals have served me well [500GB Black, 1TB green, 1.5TB green (EARS)]
3. The vertex 2 is a good drive, I have one myself. Be aware that the Vertex 3 is being released soon and will have theoretically twice the maximum speed.
4. You seriously do not need an 850W power supply to power that system. a 500W will suffice of a decent brand.
5. You might want to consider 8GB of ram. My 4GB holds me back in multi-tasking before my Phenom IIx6 does. Although, my uses are different from yours. That said, 3D modelling sounds like it could use quite a bit of ram. And Get 2x4GB not 4x2GB so you can upgrade easier along the lines if you need to.
6. I don't know much about workstation graphics cards but I do know the v7700 is from way back in 2008. That seems like it would be equal to a 4000 series in raw performance but obviously much better at your rendering tasks. You might want to consider a newer firepro card based on the 5000 series or the 6000 series, if you can afford it or find something for a similar price. Actually, my mistake. After a bit more research: The v7700 is based on the radeon 3870 from 2007.
Ok, let me do a quick hunting around based on the v7700 newegg price of $175 and the raw Gflops of 496
Ok, now, to the best of my limited research, the V4800 performs better. http://www.newegg.com/Product/Product.aspx?Item=N82E168...
Remember also that I do not have much experience with rendering, workstation cards and your uses. So check up with some other members who might know better first.
Also, it's from a different line, so it might not be what you are looking for.
Edit: they are from the same line. The FireGL series was renamed to the FirePro 3D series.
The 5770 FLEX is not a workstation video card just because it supports up to 4 displays. Workstation graphics are based on the desktop cards but the drivers are completely different and only work with the workstation cards unless you do some soft modding. The performance difference because of the driver differences is quite a lot. In workstation tasks I am more than willing to bet the older v7700 would perform better or at least the same as the 5770.
Is the Chip set on the ASUS M4A88TD-V EVO 880G SATA6Gb/s USB3.0 going to be able to bottle neck me at all?
Also I need some more guidance on CPU's. Right now i'm leaning toward AMD but my main question is what's a good CPU and then Motherboard for multi-tasking (Visual Studio, Excel, Word, Web Browsing)? I want a very solid pair for around $300.
If you are not doing much gaming or just light gaming then why get a sli/crossfire board...save some change and get a board with one PCI-E x16 slot. A particular chipset won't bottleneck you except for in the graphics area or overclocking...and then only maybe...since all modern CPU's have integrated memory controllers the modern chipset only controls peripherals (usb, sata, ethernet, etc.)