You are welcome to stick with the AMD build, but if I was personally specifying a system I would choose an Intel Core 2 Quad Q6600 and Gigabyte GA-EP45-DS3R Board for the same budget.
You need to bin the Rosewill PSU, they're crap, get a Corsair HX 520W instead (520W is ample, it's the brand that counts). Your CPU cooler should change to the Freezer 7 pro if you use intel, otherwise keep it, it's a good cooler. Rest of the components are fine, but if you go intel, you'll need a small graphics card to shove in.
The system will be fine, but you won't be able to play any games unless you put in a proper dedicated graphics card.
After reading more and more about CPU's I am thinking that quad core might not be the way to go. I do a lot of downloading, surfing the net, watching movies, blah blah blah, but I do not do any high intensive processing (extracting large rar files might be the most intensive), therefore I will probably never use 4 cores. I think dual core will be the way to go as I will have faster speeds. Let me know what you think, and what chip you think I should go with. I still can't decide Intel or AMD... Here is what I am thinking (I haven't looked at the boards yet)...
