Well, I sat down and built up a list I really like. I been looking into the i7, but I'm going to pass. While hyperthreading sounds really neat, I don't really have much of a need for it, yet. Maybe in a year or two, I will build a new computer and spend more for something like this or whatever is the latest and greatest. As for the GTX 570 or 580, I'm going to pass on that too. Ideally, I wanted to play on ultra graphics though I'm not going to be using a good monitor and high graphics will be fine. As sponge and Nick 2.1 mentioned earlier, if for some odd reason I don't like the graphics I'll return it or SLI that bitch. Also, I upped the power supply because I think that's what I might need if I decide to use two graphic cards or upgrade other parts. I got a cheaper case because looks is the least important thing to me. My main concern is fitting everything in and good airflow.

So I got this in around $1318 compared to my old list of 1297 that was priced without monitor and keyboard/mouse. I'm going to start ordering in a couple of days unless anyone wants to suggest getting something else.

Part list permalink / Part price breakdown by merchant

CPU: Intel Core i5-2500K 3.3GHz Quad-Core Processor ($179.99 @ Microcenter)
CPU Cooler: Cooler Master Hyper 212 Plus 76.8 CFM Sleeve Bearing CPU Cooler ($23.99 @ SuperBiiz)
Motherboard: Gigabyte GA-Z68XP-UD3P ATX LGA1155 Motherboard ($179.98 @ Newegg)
Memory: G.Skill Ripjaws Series 8GB (2 x 4GB) DDR3-1600 Memory ($46.99 @ Newegg)
Hard Drive: Western Digital Caviar Black 500GB 3.5" 7200RPM Internal Hard Drive ($98.99 @ SuperBiiz)
Video Card: EVGA GeForce GTX 570 1.25GB Video Card ($339.99 @ Newegg)
Case: XClio WTBK ATX Full Tower Case ($89.98 @ Newegg)
Power Supply: Corsair 700W ATX12V Power Supply ($101.74 @ Amazon)
Optical Drive: Sony AD-7280S-0B DVD/CD Writer ($19.99 @ Amazon)
Monitor: Hannspree HF225DPB 21.5" Monitor ($118.99 @ Mac Connection)
Keyboard: Logitech Wireless Combo MK260 Wireless Standard Keyboard w/Optical Mouse ($25.99 @ Newegg)
Total: $1226.62
(Prices include shipping and discounts when available.)
(Generated 2012-01-21 21:11 EST-0500)

As much as I wanted to build some kind of awesome gaming rig, I'll settle for less and ultimately enjoy the learning experience I got from all of you and this thread. I learned and still am learning a lot about computers. The next big hurdle will be ordering and putting it together then maybe upgrading components or utilizing SLI. In about a year or two I'll aim at a budget of $2000, and this one will go to my little sister or my lesser fortunate cousins in the Philippines. Once again, thanks everyone for your awesome advise.