Unlike Murk i recommend a quad core processor, i picked my 2.4ghz Q6600 for only 120 pounds!
I'm running...
Intel quad core Q6600 2.4ghz
Geforce 8800 GTX XXX 768mb
Corsair 4gb of ram (effectively 3gb thnx to 32bit system)
MSI P7N Diamond nForce 780i
Not sure what else to recommend as i'm not sure what products are good., went with an MSI motherboard which is supposed to be good, although i get random BSOD due to my NVGTS.sys (or similar) which after hunting down is SATA.. hmm... doesn't like my Sata dvd drive.
I went with the Antec P180 for my tower, and it's stupid. It's a) monolithic and b) not enough actual space in the bottom, i had to take out the lower fan due to there not being enough room for my cabling..
Not a recommended case by me unless you really need the space and are pretty good at system building.
Sorry i can't really be more help since i just researched what i wanted, i do know that my pc came to 650pounds/824euros (Cost 210 pounds for the monitor, i dnt include that though but since you need one) and it runs Half life 2 benchmarks at over 170FPS
Plays new games coming out at full spec smoothly at 1680 x 1050, i haven't tested DX10 stuff though, i went back to xp after vista 64bit annoyed me greatly
For a monitor i went with the Samsung Syncmaster 2232bw (22") "pebble". Beautiful piece of kit, no dead pixels (same for my samsung 40" tv) and looks great at 1680 x 1050.
My MSI mobo came with a soundblaster card with it, but it';s not technically the "full" card so it's probably better to pick up a dedicated sound card.