Graphics (Video) Card - I would get either ati HD 5870 or one ati HD 5970

Processor - I recommend intel core i7 920, plus, H50 for cooler.

MotherBoard - msi x58 platinum sli is a good motherboard for me.

Your configuration looks good. You won't need anything more than a 5850 for those games and definitely not anything like an i7-920. 

Given Uk pricing I'd go with the amd 955-You can oc it to just the same speed as a 965 so not worth the extra $ for the 965

Both your Psu+ram are overpriced-Look into some other companies-Antec+corsair are very pricey so OCZ/other alternatives might be better for you

FOr future gaming I would definitely advise atleast a 5850/5870-Probably the former as it is a great deal right now with pricecuts going on.

a 650W PSU would be fine... then go for the cooler master, asus, Ph II 965, crucial, and a 5870.. better for future games

ddr3 have "issues" with latencies only because the frequency is much higher than ddr2

buy a good air cooler like the arctic cooler or scythe and a single HD like a caviar black would be fine

After 2 weeks of moderate research and listening to a lot of useful comments and recommendations Purchase Order has been placed and "the waiting" started.
Here is what i am building and expecting it to be a viable system for the next 2 years.

Antec 902
Corsair TX 750W
ASUS M4A89GTD PRO/USB 3
AMD Phenom II x4 965 BE
ASUS RADEON HD 5850 1 GB  PCI Express (may double in future)
Corsair Dominator 1600 Mhz 4GB CL9 ( Unbuffered / Non ECC )
Creative XF Xtreme Audio PCI (Windows 7 Compitable)
Sony Optiarc DVD RW x24 SATA
WESTERN Digital Caviar Black 500 GB 32 MB (may double in future)
Corsair Cooling H50 Hydro
Microsoft Windows 7 Home Premium

And to finish this off i decided to go "Posh" and throw in a LG 22" LED W2286-PF.It was just because i am sick of all the boring budget monitors i had in the past.Wanted to do something different.

Feel free to leave any comments. Thanks for the help and input. I won't be making a YouTube video , because i don't know  how to do them things and edit.
After assembly is done , will update all drives if necessary.
And after that ?
FALLOUT 3 GOTY Edition (already ordered from Amazon).Happy hiking in Wasteland :)

i read this CPU comparison...
'' In most scenarios Core i5 and Phenom II X4 achieved the same performance level and in most cases when one particular CPU was faster than the other the performance difference was practically negligible.

There were three important exceptions, however. When converting a full-length movie from a DVD (MPEG2) to DivX format Core i5-750 was 16% faster than Phenom II X4 965 and 20% faster than Phenom II X4 955; rendering a sample project on After Effects CS4 Core i5-750 was 22% faster than Phenom II X4 965 and 26% faster than Phenom II 955; and compressing files with WinRAR Core i5-750 was 19% faster than Phenom II X4 965 and 22% faster than Phenom II X4 955.

So for the user working professionally with video editing, Core i5 is the CPU to go and there is no question about it. For the average user picking the “right” CPU will depend on the brand he or she likes best, although the results move the tip of the scale towards Intel. Another item that may help decide the best CPU to choose from is the cost of the motherboard, which was not analyzed in the present review.

One very important discovery made during this review is that if you have a high-end video card, the CPU has almost no influence in the system gaming performance. So if you are building a high-end gaming machine, maybe it is better to pick a cheaper processor and invest the price difference on a faster video card.''

There isn't much money to save on choosing AMD Phenom II X4 965, instead of the Intel core i5. I did a comparison for my own build and the AMD route ( the 965, AMD 785G / AMD SB710 motherboard and 8 gigs of RAM ) only saved me 26 EUR compared to the Intel route ( i5-750, p55-express motherboard, 8 gigs of RAM ).

get the phenom ii x4 955 and overclock it the h50 will handle it.

Phenom is avaliable in maybe a week if you like AMD, go for the X6 with the high cache. It's not much more than X4 965.

Corsair memory is good, don't use Ballistic .

Go for the gigabyte board as well, more reliable.

5850 if your budget allow you to upgrade.

I think the 640 Black western digital has a faster write and read speed. See if you can still find one.

H50 is the best bang for the buck.

Good choice going with AMD. S1156 was never really a solid platform. Its a dead end socket for CPU upgrades. In 1 year, we'll have Sandy Bridge, running on S1155, thus making S1156 obsolete. Too quick of a shelf time to even take it seriously.

AM3 on the other hand will have the option of other, more powerful CPUs down the line. S1156 won't. Sure the i5 750 is faster than AMDs 965, but you end up with a middleman platform between S775 and S1155.

The best option would have been to go with S1366 (as you would have a larger CPU selection down the future, including 6 cores, and a much greater degree of expandability). But it is costlier, that that should be taken into account as well.

Good call on the board, ODD, PSU, and GPU. I honestly would not have went with that HDD, but that would have been a toss up.

Enjoy your rig!