After considering all of the input, I decided to go with a Quad-Core processor. I have switched a couple of the items in the build so feel free to critique. Im still struggling between video cards, but for the budget, I really need to stay under $100 if possible.
In the future, I want to watch TV/DVDs run through a projector/LCD along side my normal PC display, so it needs to be capable of running two monitors. Aside from that, I don't have any visually demanding usage as I only browse the internet, listen to music, word processing, you catch the drift.
Any help on the video card would be helpful. Here's the updated setup (updated items in bold):
Case - GIGABYTE GZ-X5BPD-500 Black SECC Steel / ABS ATX Mid Tower Computer Case - Retail
http://www.newegg.com/Product/Produc...82E16811233039
Power Supply - Antec Basiq BP550Plus-EC ATX12V & EPS12V Power Supply
Motherboard - GIGABYTE GA-EP45-UD3R LGA 775 Intel P45 ATX Intel Motherboard - Retail
http://www.newegg.com/Product/Produc...82E16813128358
CPU - Intel Core 2 Quad Q8200 2.33GHz 4MB L2 Cache LGA 775 95W Quad-Core Processor
http://www.newegg.com/Product/Produc...82E16819115055
Video Card - ????
HDD - Western Digital Caviar Black WD5001AALS 500GB 7200 RPM 32MB Cache SATA 3.0Gb/s 3.5" Internal Hard Drive - OEM
http://www.newegg.com/Product/Produc...82E16822136320
RAM - Kingston HyperX T1 Series 4GB (2 x 2GB) 240-Pin DDR2 SDRAM DDR2 1066 (PC2 8500) Dual Channel Kit
http://www.newegg.com/Product/Produc...82E16820104098
Optical Drive - LITE-ON Black 22X DVD+R 8X DVD+RW 8X DVD+R DL 22X DVD-R 6X DVD-RW 12X DVD-RAM 16X DVD-ROM 48X CD-R 32X
CD-RW 48X CD-ROM 2MB Cache SATA 22X DVD Burner with LightScribe
http://www.newegg.com/Product/Produc...82E16827106280
Total w/o video card = $550