Ok here is my proposed build with a total of $493.99
Motherboard-ASRock 880GM-LE FX AM3+ AMD 880G Micro ATX-$59.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
A highly rated AM3+ for future compatibility.
Processor-AMD Athlon II X4 645 Propus 3.1GHz Socket AM3 95W-$109.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
The 645 is a solid quad capable of most anything a user could throw at it.
Memory-2X Kingston HyperX Blu 2GB 240-Pin DDR3 SDRAM DDR3 1600 2X $13.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
This is some great RAM at an even better price. I use it OC'd 220Mhz runs perfect.
Video Card-PowerColor AX6750 1GBK3-H Radeon HD 6750 1GB 128-bit DDR3 $79.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
The 6750 is a good budget GPU capable of playing most games on mid-high settings
Power Supply-Rosewill Stallion Series RD400-2-SB 400W ATX 2.2-$34.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
A very good budget PSU with enough watts to push your system.
HDD-Seagate Barracuda ST500DM002 500GB 7200 RPM 16MB Cache SATA 6.0Gb/s $85.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
Hands down the best drive for the money.
Case-APEX SK-393-C Black Steel ATX Mid Tower $19.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
This is a sturdy little case with good expansion and airflow.
ROM-LITE-ON DVD Burner - Bulk $17.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
Just your run of the mill CD/DVD burner.
Monitor-ASUS VH Series VH197D-B Black 18.5" 5ms Widescreen LED Monitor-$74.99
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
A really nice LED monitor with alot of features, great specs and a low price.
My goal in this build was to maximize performance and quality while still being cost effective.
Please let me know if you have any question, thanks.