Computer Build, Novice in Need of Suggestions

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Hey guys/gals, I appreciate your taking the time to read through this. I am new to computer building and could use some more experienced direction from anyone who has experience in computer building. I have conducted some research and intend to conduct further research before purchasing hardware and constructing the computer, nevertheless, based on the little research I've done and several consumer reviews, namely from tigerdirect, newegg, and circuitcity buyers I have composed a list of computer hardware which is compatible and, to my knowledge, of high quality. The computer is to be used for high end gaming and research with future potential upgrading as a major priority.

Before listing off the selected hardware, I was curious as to anyone's thoughts regarding the intel core i7 920 and 860 processors. In terms of performance I realize the intel core i7 920, in general, is better than the 860, and the price for both are the same, however, purchasing a motherboard that is compatible with the LGA 1366 socket is also more expensive. In terms of cost efficiency, performance, and future upgrading in mind, would you suggest purchasing the intel core i7 920 or 860?

I was hoping to spend between $1,100-$1,300.

-Intel Core i7 860 processor 2.80 GHz, LGA 1156 $279.99

-MSI P55-GD65 Motherboard $149.99

-Corsair PC12800 RAM- 4 GB, DDR3, 1600 MHz, Dual Channel (2x2GB) (Qnty 2) $104.99 (x2)

-Western Digital WD1001FALS Caviar Black Hard Drive 1 TB, 7,200 RPMs $94.99

-Lite-O IHAS424-98 Internal DVD Writer DVD +R 24x, etc. (SATA) $34.99

-BFG Tech GeoForce 9800 GTX 512MB 256-bit GDDR3 PCI Express 2.0x16 $139.99

-Cooler Master HAF 932 Full Tower Black Case ATX compatible $139.99

-Corsair TX750W 750 Watt Power Supply ATX, 140 mm Fan, SLI Ready, SATA Ready $104.99

Total Cost- $1,155

I intended to use the stock CPU cooler that came with the intel core i7 860, however, if you suggest using another cooling system, please let me know what you have in mind. Once more, thank you for your help. It is most appreciated.
 
Perfection is unattainable. Shoot for reliability.

Good choice on Corsair power supply. The Cooler Master case is ok, but the power switches fail too often. DVD drives are fine. Western Digital Black or the equivalent Seagate are excellent choices. I don't know the motherboard, but I am partial to Gigabyte.
I suspect you will be very happy with what you have selected. Just be sure you get a warranty for the case, as there is no replacement power switch if that one fails.
 
You're losing out on gaming performance with that GPU.

I'd say go with the Core i5 750 and a Radeon HD 4890 or GTX 275 instead. In case you're willing to spend about 100 bucks more, go with the HD 5850.
 
i agree with Ritwik7. the i5 is more than enough for games and it won't bottleneck any video card. (besides the newest highend cards in dual or quad crossfire/sli)
If you want a good video card the HD5850 is a very good pick.
-save ~80$ on the CPU
-pay ~170$ more on the video card
--> for ~90$ more you'll have 2x more gpu power and only 5%(or less) less cpu power (always check some benchmarks and read reviews before buying).
With your configuration you won't be able to play at 1080p with full details (even at lower res with some more demanding games), but with this config you can play most games at full (some even at a higher res).
It's best to have a 22" or bigger monitor.

PS: you don't need a better cooling solution if you don't plan on overclocking. also the core i5 runs cooler, but i'm not sure abut the video cards.
 
You can get by with a cheaper PSU too, unless you're looking to have a dual-GPU solution in the future; the Corsair 650TX would be plenty for that setup, even with a 5850.
 
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