This is my first build and just wondering if you guys had some ideas on cutting costs or improving certain parts, or maybe even a compatibility issue I didn't pick up on. Thanks for any advice.

Heres my pc: Wish list details

hold on guys i gave the wrong link............k better now sorry.

Been waiting a week now....would like a reply, unless of course you think its perfect . But I doubt that.

Your case is a little on the expensive side, but it is very good. Just keep in mind that it will need room to "breathe" and it is (to say the least) enormous.

Next, drop your CPU Heatsink and McAffee. Stock cooling for the Core 2 line are incredible, and I wouldn't waste $70 on a heatsink that has a chance of not even exceeding the stock-cooler's potential. Also, remember the expression "the best things in life are free"? Well, that applies best to AntiVirus software. Believe it or not, the free stuff will get the job done better than pay-for AV, and will take up less system resources while doing it.

Your Hard Drive is also horrendously expensive. You can get a 250GB for $70, so why you'd even consider $100 more for 100GB less is beyond me. The specs of the drive aren't worth that. Get yourself a nice 500GB around the same price, or use the money saved from the cooler and McAffee to upgrade to a 1TB Seagate.

Your RAM is so expensive that for the same price, you could get all 8GB that's supported by your Motherboard by getting two sets of these:
Newegg.com - CORSAIR XMS2 2GB (2 x 1GB) 240-Pin DDR2 SDRAM DDR2 800 (PC2 6400) Dual Channel Kit Desktop Memory - Retail

On top of that, your PC wouldn't work if you got what's on that list now. Want to know why? Because, there's no video card! You can't game if you can't see anything, and you won't be able to use that lovely (albeit overpriced) monitor. I'd recommend an 8800GT, such as this:
Newegg.com - EVGA 512-P3-N801-AR GeForce 8800GT 512MB 256-bit GDDR3 PCI Express 2.0 HDCP Ready SLI Supported Video Card - Retail

For about $30 more you can up your PSU by 200W and get a more reliable brand:
Newegg.com - Thermaltake Toughpower W0172RU ATX12V / EPS12V 850W Power Supply 100 - 240 V CB, CE, FCC, TUV, cUL - Retail

Get a floppy drive, and you may save yourself a lot of trouble in the future. They're far from obsolete; they still have plenty of uses. That, and they're only about $10, and that includes the shipping.

As for the monitor I mentioned before as being overpriced, you can shop around Newegg for a cheaper one that's just as good if you want to save yourself some cash.

Consider this build improved.

Already fixed the Power Supply Unit, getting a 700 watt from OCZ and as for for what you said about the video card I KNOW, this list just includes what I can afford for now, and I'm actually getting the 8800gt for x-mas. But getting two sets of the 2gb memory doesn't add up to 8gb.....I've also already removed heatsink/ virus softwrae and am upgrading my sound card/ speakers.

Thanks for answering me btw!

Yes, it does. Each pack has 2 sticks, and each stick is 2GB of RAM. By buying two packs, you get 4x2GB, which is 8GB.

May I ask which?

Try getting one of the Creative SoundBlasters that come with a front-panel. Your case doesn't have a door and has 10 of the properly-sized front slots (most people oinly need 2 so you can afford it), and those are supposed to be lovely.

Also, what type of speakers? 7.1?