Well if you want to lose 200-300 bucks then lose 1 of the hard drives (300GB is more than enough).
Downgrade your processor to the e6300 (I have both the e6300 and the e6600, granted the e6600 is better, but the e6300 is still amazingly fast, and when overclocked it can crush an AMD FX-62!).
And if you still need to save more after that, consider the x1900GT for your VGA (or a 7900GT) both are great cards and will see you through till Direct X 10 with ease.
/// Intel Core 2 Duo E6600 at 3.8 ghz /// 512MB Nvidia 7900GT Gainward Golden Sample \'Goes Like **** Edition\' /// OCZ 2GB (2 x 1GB) PC5300 Dual Channel Gold GX XTC Series /// Intel Extreme D975bx-304 975X Mobo /// 2x Western Digital Raptor X 150GB in RAID 0 /// OCZ GameXStream 700w Silent SLI Ready ATX2 Power Supply ///
Light Rig : /// Intel Core 2 DUO E6300 /// Intel DP965LT 965 (Socket 775) PCI-Express DDR2 Motherboard /// Corsair 2GB DDR2 Value Select PC5300 /// Sapphire ATI Radeon X1900 GT 256MB ///