A thou will build you a nice rig. The problem now is everything has changed. 20 pin power supply, AGP, gone. Ram has changed
Your floppy, your CD/DVR.
A good board and chip on todays Fry's add is less than $ 200 with a dual core AMD 6000. It will have LAN and Audio built in
A gig of ram.. ~ $ 75
Video card - $ 150.00
A Case - too many to list
I'd start with the basics. Get a nice case with a good power supply.
Get a good board with a nice chip and two gigs of ram.
A good video card - spend at least ~ $ 150 here.
This should keep you going for a year or two