Here's the exact build I plan on building in a week or so.
Case - Cooler Master Elite 430 - $40
CPU - i5 2500k - $195 after tax at Microcenter
CPU Cooler - Hyper 212 Plus - $26
Motherboard - ASRock P67 Fatal1ty Performance - $128
Memory - G SKill Ripjaws X 8gb - $50
Hard Drive - Using an SSD I already have.
Video Card - Using a GTX 260 Core 216 I already have for the time being (I'm really not a HUGE gamer, just want the most bang for my buck overall performance wise. In the two years I've had my previous build, I played games maybe 10% of the time I used it. However, I do like to have the option available but will probably wait for the next generation of cards to upgrade to a single card)
Thermal Paste - Arctic Silver 5 - $7
Monitor - Acer G245H
Keyboard and Mouse - Already Have Razer Brand.
Total price - $446 Not Including PSU.
Okay now that I've established that, what is the cheapest and best PSU I can get by with. Obviously no SLI, because the motherboard doesn't support it. No upgrades down the road that I can think of except maybe adding a 1TB Hard Drive.
I've been looking at this PSU which would cost $43 After Rebate and has some pretty good reviews:
I did notice the OCZ option which is around the same price as the 500w I mentioned. However, the 3 things I noticed that didn't really like is the red led and also it had a decent amount of bad reviews. Also the PC MKII has 5 years warranty compared to the OCZ 3 years. Would either one of these run the system I mentioned but instead of the GTX 260, a GTX 560 Ti or 6950?
EDIT: Or would I "NEED" something like the PC Power & Cooler 650w which also has some pretty good reviews for about $20 more.
The link below will show you how to determine exactly what PSU will or won't work without guessing, for your current or future builds. Once you know how to calculate it properly you can help other folks learn.