Everythink looks really good except for the Value RAM. I mean, it will work perfectly but I like to match it with the good parts I'm getting. Also, get 2x512MB and dual channel it. Has he considered dual core?
That power supply is pretty good. I just ordered my PSU just now off of Newegg. I got this:
ASPIRE ATX-CW500WP4 ATX 500W Power Supply 115/230 V UL, CSA, TUV, CE - Retail
Simply because it was on sale and had really good specs for the price.