Originally Posted by onlymovies

My bad, thought you we're building a system..i saw now that you're ordering.
Anyway, those specs are fine. Without making major changes to the price, i would change/add these in this order:

First thing I would do is change your montherboard choice to this Asus board..one of the highest marked boards for stability and performance with the Core i7..and has onboard SAS...MSI might have it, haven't checked.
Motherboard: Asus P6T Deluxe....

1) I have two of these bad boys on the way...
VideoCard: Geforce GTX280

2) and if you can still spend, i would change to:
HD: 300GB WD VelociRaptor (you can add another later for raid 0)

3) And if money still isn't an issue, toss in
Chip: core i7 965
Ram: OCZ 6GB DDR3/1600MHz Triple Channel Memory

Doesn't really have to be in that order. I'm sure there's some encoding guru's here that can tell you what's truly important when encoding...ie, processing speed, ram etc....then make your choices based on that.