Don't touch the LGA1366 CPUs right now. The newer LGA1155 i7s (Sandy Bridge) are out, and the boards are actually pretty cheap. It would be a HUGE mistake not to go with them. I should also point out that if you end up sticking with the i7-950, you'll need triple channel RAM. Look for a 3x2 GB kit. I've got some other changes as well.
CPU: i7-2600 $300
Mobo: Gigabyte GA-P67A-UD4 $190 (I think)
HDD: Samsung Spinpoint F3 1 TB. Lots faster, and likely cheaper per GB.
Case: I like the 932, but I like the 922 better. It's only a touch smaller (not in a dimension that matters), and it's significantly cheaper.
GPU: I really hate the 470. Instead, I'd go with the HD 6950 (which you can turn into a 6970 with a BIOS change). If you absolutely need CUDA (or other nVidia specific additions), then you're looking at the GTX 460 or GTX 570. They're a bit out of the budget range (the 460 is a lot cheaper, the 570 a bit more expensive), but the 470 isn't really a good option. If you go with the 570 or 6950, you can drop the PSU to a 750W model. If you're doing the 460, you can go all the way down to a 650W.
PSU: A great choice, but check out the XFX PSUs in the same wattage range. They'll probably be cheaper, but they're just as high efficiency and quality.
HSF: I'd go with Scythe Mugen 2 Rev. B, since you've only listed a bracket.