Ah yes, the only reason to go with a monster processor: video compiling. Gamers with $700 processors make me giggle a little... I don't overclock at all, and I can run Crysis just fine on a 3-year-old machine... it's all in GPU speed (and caching) and hard drive access.
back on topic, and continuing for my system build post...
Depending on where you live, you should be able to pick up a 19" standard 4:3 LCD monitor for around $130, a keyboard for $10, a mouse for $10, and an operating system for free (before and comments on piracy hit, I'm talkin' about ubuntu. I've gotten WoW running under Wine. It's not hard)