First of all, sorry this post is so long.
I agree with sniperviper21 that these days your speakers will most likely affect your sound quality much more than a sound card will, and unless you have very
high quality speakers, and need professional quality sound/recording, a sound card usually isn't necessary. I suggest you build your rig without ordering a sound card, then if, at a later date, you find your sound quality lacking (which I doubt you will) you can always install one.
For a monitor I suggest this
one. I use it as my primary monitor on my main computer and I love it, but I haven't used the built-in speakers I bet the sound quality on them is terrible so don't even rely on those, but the picture quality is great and its 25" usually selling for $199.99.
I (again) agree with sniperviper21 that you will not need the V8 heatsink, save your money there and stick with the stock HSF, it should suffice fine unless you want to overclock (which you won't need to at all).
As per price vs. performance you might consider an AMD build over an Intel build, since you won't be strictly gaming I can't say it will perform neck-and-neck with an Intel build, Intel is still leading in encoding and most non-gaming applications, however you will save a lot more money on both the CPU and the compatible motherboard/RAM. If you want to stick with Intel that's cool too, great hardware, the AMD are just a few $100 cheaper and you get equal performance in gaming and competitive performance elsewhere (I doubt you would notice much of a difference).
You might want to consider getting a slightly better videocard, the one you linked is discontinued but spending $100 on a GPU when you appear willing to spend so much extra on your CPU / MOBO seems a bit odd. A 9600GT should run your current games fine, but if you want your rig to last I suggest picking up at least a (NVIDIA GTX 260 Core 216 or better or a ATI Radeon HD 4870 or better). The new HD 5850 and 5870s are out, which are dominating the market right now, for ~$250 you can pick up an HD 5850 (if you can find one in stock) which will last for quite some time, however if you don't plan on getting any really taxing games anytime soon, a GTX 260 Core 216 or HD 4870 , depending on whether you want NVidia or ATI (both are great cards) will run anything, including newer games to come out (Diablo3, etc) fine.
If you are set on an Intel+NVidia build, then I suggest dropping your sound card and V8 HSF and picking up the monitor I recommended will give you enough extra money to upgrade your videocard to a GTX 260 Core 216 or better, and if you're going with a Core i7, you might as well maximize it and pick up triple channel RAM (3x 2GB = 6GB would be more than enough for quite some time).
Also, after looking at the RAM you chose... That is very
fast RAM 2133MHz... You can pick up 6GB of 1600MHz triple channel RAM for almost half the price:
Also, do you really think you'll need gaming accessories (keyboard/mouse)?
You can pick up a nice keyboard+mouse combo for like $20, the G11 is a great keyboard but if you don't hardcore game I can't see justifying spending the money on it. A high-DPI mouse may be worth it, especially for photo editing as well, but the keyboard is a little less necessary. Even a lot of hardcore gamers don't buy gaming keyboards.
Oh, and nice choice of hard drive. I hear great things about the Spinpoint F3.