That's a nice setup for $700...
Although you really should have at least 512MB RAM these days...
My Ideal PC would be [with no price limitations of course!]:
Dual 2.8GHz Xeons processors w/ hyperthreading
6GB ECC REG DDR RAM
4 x 200GB Western Digital 8MB Cache HDDs
ATI Radeon 9800 Hercules with 256MB RAM - Graphics Card

17" Top Quality TFT Monitor
A cool keyboard
a Nifty Mouse with a tail and little ears with added cheese
As you can guess, I will never have such a system, as right now I have:
AMD Athlon XP 1900+ 1.21GHz Processor
512MB SDRAM
nVidia GeForce3 Ti500 GFx Card
80GB MAXTOR :cry: Harddrive
Big fat ugly 19" Monitor
Nice keyboard
nifty mouse