Re: Entry level gaming
for that kind of money you build a really nice system, you should look for an amd processor if you want good value, check out the phenom x6 processors. Graphics cards, look around for a good price on a 5850 or 5870 or, if you are really careful with what price you pay, even a 6970. if you want a decent psu you will probably need at least 600 watts, and make sure it has the right connections for your graphics card!!!
I'm not an expert and you will have to fill in the rest of your components yourself... One word of advice though, thoroughly check out the product you are planning on buying, and I don't just mean value, also tif it will be compatible with everything it needs to be. There are so many careless mistakes you can make that will be solved with ten minutes research.