Looks like a good setup to me. The 1 TB hard drive is something I would take issue with, but this is a bad time to buy hard drives. The industry is still recovering from the floods in Thailand, and it seems as if all capacities got bumped up by one full price bracket. I don't think the prices are expected to return to normal until some time after this summer.
I don't know about the graphics cards - look over various benchmarks to make your decision, I suppose.
Edit: for reference, even though prices have gone down since the actual flood, I bought some 1.5 TB hard drives last May for $65 each. That exact same model of hard drive is currently selling for $140, and even 500 GB hard drives are going for around $70. I'm looking forward to when prices go back down.
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