Well I am not an expert, but I will give you my opinion.
I think thats a good config. The only thing I would change is the motherboard and the memory. You could go for the ASUS A7V333 with 512MB PC333. The Geforce4 Ti4200 is a good card for ~$200. If you dont want to spend that much money getting an ASUS A7V333 you can get the AthlonXP 2000+ CPU for a little less $$. I think this processor is the best buy for now.
Well, this was just my opinion!!
What is a computer? A graphic what? Is CPU a robot from StarWars? Oh! I will just turn ON the TV!