Building a system for the first time

Question

I recently posted a few weeks back about buying a system from either Dell or HP http://forums.adobe.com/thread/732545?tstart=0.  I quickly learned that those systems were not going to fit my need based on my budget.  So, I decided after researching components that I will build a computer by hand for the first time.  I am still operating on a budget of around $1000, but I'm giving the budget a bit of flexibility so I don't limit my options.  I am a hobbyist who only has experience using Power Director on my laptop, but I had a lot of fun editing for the first time and I want to step up my game.  With the new system, I plan to use adobe premiere cs5 and after effects.  I will capture my video from either an HD Helmet cam or HD flip format is  MPEG-4 AVC/H.264.  So where I need help is selecting the right things to optimize my performance.  The following is a list of items I'm looking with their prices.  Please help me decide what will be right for me.  Open to any combo of suggestions or comments. Thanks!
Processor
Intel i7 930 $200 microcenter
Intel i7 950 $230 microcenter
I don't know if I want overclock yet, but it sounds like a good idea.  $30 for the upgrade to the i7 950 seems pretty good. ro do I use the money elsewhere?
Motherboard
GIGABYTE GA-X58A-UD3R $210
http://www.newegg.com/Product/Product.aspx?Item=N82E16813128423
Seems like a good mobo. Are there any features that this board lacks that I should look for in another board? Also, newegg offers significant deals on "open box" products.  Is this a good way to go?
Ram
I have a few questions for this selection.  I've currently budgeted approximately $250 for ram.  I'm looking at going with 12GB.  I certainly don't have the budget for 24GB, but what about 16GB?
Do I look for 1333 or 1600?  2GB or 4GB sticks?  Would I be fine if I bought say 2 packs of 6GB ram, both same manufacturer and same type or would I want to buy 1 pack of 12GB?
GPU
Nvidia Geforce gtx 460 1GB $220
Is it worth it to go to the 470? I know it's a better card but being a budget is really worth the upgrade or can I get away with a 460?
Any recomendations for a 460 as there are many in the same price range?
Drives
I see these drives priced in the $55 range which would leave at around $220 for the lot of em
These are the drives I'm looking at as they are highly recommended on this board:
SAMSUNG Spinpoint F3
WD Caviar Black
Right now, I plan to buy 4 drives.  Do I want 4 of the exact same? or say 1 cavier black for os/ programs and 3 samsung f3 for pagefile/scratch/renders?  Can I also get a brief description of what these are too?  Also, could have a 500gb for os/programs and 1tb for the rest or would it be advisable for 1tb for all? or 500gb for all?
I don't think I can do a raid setup based on my budget, but I saw this as an option on the thread for storage rules is to use the on-board IHCR or Marvell chip.  I don't know really anything about this, but what would the price be to explore this option?
Case
Cooler Master Storm Scout $90
http://www.newegg.com/Product/Product.aspx?Item=N82E16811119196
I picked this case for a few reasons.  I seem move about every 6 months so the handles on top would be very useful, and it seems to have good cooling.  I know a full size case is recommended, but they seem to be significantly more.
Cooling
Noctua NH-U12P SE2 120mm SSO CPU Cooler $75
Everywhere I look this cooler seems to get great reviews.  I figure it could be a good idea to get a good cooler if I get a mid-tower case.
The only other option I can think of for case/cooling is to combine the budgeted price for both and look at different options like a full size case with a less quality cooler. Is this a better option
PSU
Looking into an 850 W power supply.  I figure to budget $80 towards as I've seen a few in that range
http://www.newegg.com/Product/Product.aspx?Item=N82E16817517003
so would something like this work?
Final Thoughts
So, when you add it all up its about $1350.  First question, how does this look overall?  Nothing I've chosen is obviously overkill, but is there anything I can afford to go cheaper on? or anything I should invest more into?
Thanks again to everyone for the help.  The resources, info and people on this forum have just been awesome.

Answer 1

Seems like we are planning very similar PCs.  My build is going to be for: amateur video editing including animation mainly with CS5, application design and coding mainly with MS Visual Studio 2008, HTPC (until I build a cheap dedicated unit for the TV), general family computing.  I am new to this stuff, but can at least share some pricing and my decision making process so far.
Here is what I have selected so far regarding the parts:
MotherBoard: Gigabyte GA-X58A-UD3R x58
Seems like one of the lower cost x58 MBs and has some decent reviews.  Wait for a sale, you should be able to find this for around $180.00.  That is how much I got it for from New Egg (straight up with savings code no rebate), should be arriving on my doorstep tomorrow.  Also, I think Fry's has it now for $170.00 in store, but that includes a $20.00 rebate and tax. 
PowerSupply: Corsair TX650W
Some might think this is on the low side.  On the other hand, I have gotten other conflicting advice, stating that many people overestimate their actual power needs.  So who knows.  I have read that a PSU works more efficient when it is matched to the power needs - meaning that a 1000w PSU that is generally seeing 200w usage might not be so efficient.  Anyway, I got the PSU for $50.00 from New Egg (with rebate), and it has a good reputation, so we will see how it goes.
Graphics Card: GIGABYTE GV-N460OC-1GI GeForce GTX 460 (Fermi) 1GB 256-bit GDDR5
I was planning on a lower cost card, but then noticed this card for sale over the weekend for $178.00 (with rebate), so I ordered one.  I have read the GTX460 has reasonable power requirements, and can be made to take advantage of CUDA/Mercury with CS5 (although haven't done much research into that).  This particular version based on reviews, seems fairly quite with the twin fans. It's possible I overspent a bit on this card considering my needs, time will tell.
Here is what I am planning to purchase:
CPU: i7 930
I am fortunate to live near a Fry's and MicroCenter ($200.00).  From reading the forum, seems like this is generally the lowest CPU folks go in terms of building an editing machine.  I understand the argument that for only $30.00 more, one can upgrade to the i7 950.  On the other hand, that argument could be made for many of the components, and then before you know it, a little extra here and there, and the budget is shot:)  So I am planning to draw the line at the 930.
Here are my undecided’s:
Memory
I am up in the air between 6or12gig/module compatibility/cost.  But one thing for you to keep in mind, is the official memory certified for the motherboard you select.  For the Gigabyte motherboard, I missed out on a recent RAM deal, because the RAM was not officially certified for the board.  Some people tell me this is important, while others say "RAM is RAM" and no big deal.  Something to consider.
HardDrives
Same as you, considering the Samsung Spinpoint F3.  Good prices now at MicroCenter on the 16MB cache models in 500 and 1TB sizes.  I just don't know if larger cache sizes are important or not, since they are also offered in 32MB and higher.
Anyway, good luck with your build and hope it works well.