Sorry for the late reply. Been really busy recently. The specs you listed on the first page should work fine. If it was me, I wouldn't bother with that cooler for the CPU. Save another $35. It's ok if you want them. If that person doesn't care about sound quality, I don't think that sound card is necessary too. What I mean by that is he'll be using speakers from the monitors? That really defeats the purpose of the nice Audigy 2 card. You can always use that onboard sound. Just have the integrated monitor speakers so that they plug into the back of the motherboard where the sound ports are. Personally, I would never get speakers+monitor together but for his situation, it would be a great addition. Not the best of quality sound, but it gets the job done.
That video card is pretty nice. Overall, it's a pretty good PC. It will work. I like to get that extra power with an Athlon 64 4000+ but the cost between them is pretty big for 200MHz more so it's probably not worth it. I like some Corsair XMS or OCZ performance RAM to go with that too, but the ValueSelect is ok too.