I built a PC with Gigabytes EP45-UD3L (basically the same as that MB but on the P45 chipset), a Q9550, Corsair TX650w, and a GTX 260 216 for under $600, but I reused the DVD burner, hard drives, and case from an older PC. (I think this case is at least 12 years old; it's beige, can accommodate AT motherboards, and has punch-outs on the back for extra serial and parallel cables.
The Wolfdale CPUs overclock very well, but don't push the stock Intel CPU cooler too much (it's not the best design in the world).
Here's a hint for installing those push-pin Intel coolers: Gigabyte ships their motherboards in anti-static bags with some foam in the bottom of the box. When you get the board and CPU, take the CPU out of the bag, put the empty bag on top of the foam (lining the box), then put the motherboard back down on top of the bag. This gives you a surface that makes it easier to install the heatsink, because it takes a surprising amount of force to get those little plastic pins settled right. (If you try to do it in the case, you'll get all kinds of horrible crackling noises from the fiberglass motherboard buckling, and it's tougher to do.) The pins just push on the bag and foam, and the rest of the board is still evenly supported so you can't damage it. I've done this on a couple Gigabyte boards now.