I have purchased all parts for my budget gaming system for a grand total of 622USD shipped.  
(not inc. Opticals, HD, Floppy & Monitor taken from old system)
 
I have built 2-3 gaming systems in the past so I am not new to fresh builds, just to overclocking.
 
My parts are:  
 
Proc: E4400 2Ghz 800Fsb
Cooler: Tunic Tower 120
MB: Gigabyte GA-DS3L P35
RAM: Crucial Ballistix PC6400 4-4-4-12 Timings
VGA: BFG 7800GTX OC'd
PSU: Ultra XVS 700w Modular PSU
CASE: Ultra Grid Tower w/ 2x 120 Fans 2x Sidevents CPU/VGA
HD: Western Digital 250GB 7200RPM
Optical: Samsung SuperMulti DVDR
Monitor: Vizio 32in LCD TV
Floppy: Who cares?
 
 
*Notes*
 
Memory Timings: I would like to be at very least 4-4-4-12
 
CPU: I do not feel comfortable lapping my CPU and Tunic because I have never does so before.  
 
Voltages: I would like to run near default voltages if possible to prevent burnout.
 
Time: I need to use this system for 2-3 Years Reliably for Games, word docs, video proc, image editing.

running my e4300 right now at 300 bus, 1200 FSB
very stable, temps are good and no voltage increase.
300 is a 50% increase... pushing it further and using it as a 24/7 computer doesn't seem like a good idea to me, but others may disagree