Yes, if you are willing to settle for a 6850 or 6870 video card.
Good 550W PSU $55 but you have to look for them.
Asrock Ex3 Gen3 MB
8GB G.skill RAM
CM 212+ HSF
Antec 300 Illusion case
I5 2500k
Brings you close to $700.
Doesn't include HDD. Add $100.
You really need to watch prices and shipping, they seem to be jumping up and down quite a bit lately.