Ok, so I'm finally breaking down and buying parts for a new machine (also my first time building a whole new computer). I've been looking around at parts for months now and I'm pretty confident in my choices. I just wanted to post here and know what you thought about it/recommend anything else. I'm basically trying to cut as many corners as i possibly can as i don't really want to spend any more than 600 USD max, while at the same time getting a decent machine for my money.
CPU: Intel i5 750 Lynnfield 2.66GHz
Mobo: GIGABYTE GA-P55-UD3R
Memory: G.SKILL Trident 4GB DDR3 2000
Case: XCLIO Windtunnel
PSU: XCLIO GREATPOWER X14S4P3 550W
I was looking at getting a Q9400 @2.66GHz but the i5 just looks so tempting for only about 50-60$ more for the whole set, plus (hopefully if intel stops changing sockets on us) i wouldn't have to worry about having an old socket type if/when i switched out my CPU or mobo. 
I'll also be taking out my old GPU and secondary HDD from my old computer (4 year old single core 3700+ AMD Athlon with a gig of ram that I'll probably be selling for $200 bucks
)
Video Card: ATI Radeon HD 2600 XT
HDD: 500GB Seagate Barracuda
Edit: Sound Card: Sound Blaster Audigy SE
Thoughts? Comments? Griefs? Complaints? 
I'll spare you the "OMG budget too small blahblahblahblahbla
h" talk and just tell you where I think you can save a bit. Mind you, none of the parts I recommend will be "great", "awesome", "fantastic" etc, but they are great value for money and will not blow up your PC.
PSU:
OZC StealthXStream 600WThis review for the power supply seem pretty good to me.
Motherboard:
Gigabyte P55M-UD2If you don't mind microATX motherboards, the UD2 is much better value for money in a motherboard.
MSI P55-CD53There're some people who don't like MSI motherboards, I don't have enough experience with them to say anything about them. If you're not one of those people, you could take a look at it.
ASUS P7P55DIf you must have an ATX motherboard, this is another potential contender.
Memory: DDR3-2000 is way overkill for memory; most of the time you won't even notice what all that bandwidth does for you. If you can find cheaper memory that has less bandwidth but better CAS latency, go with it IMO.
P.S. The i5-750 is great performance in a processor, and totally worth it if you have to save on the $100 over an i7-860. Don't let anyone convince you otherwise.