It's not a very good power supply but should still work for you. I would not stress it too hard though.http://www.eggxpert.com/forums/thread/323050.aspx
LegendKiller, where is OP posting a budget or a need for graphics cards?
Netspiderz you are correct in that you will only need a motherboard, CPU and RAM as long as you have the other parts.
Get the i5 2400 if you can afford it. It's a great chip. Of course the i3 is too.