Get the i7 920 and overclock.
needs more floppy drive like its 1995 baby
The graphics cards is alright but with an i7 system you might want to shoot a little higher.Also, the atcs is 840 isn't the best for aircooling. The Antec 1200 and the HAF 932 own that.
The thing is, I don't want it to be too loud. My mom sleeps in the room right next to mine and the fans in my current build make quite a bit of noise.
Updated with the i7 920 and the black HAF. My plan with the GPU is to buy a second one down the road and SLI them.
What is your current budget? If noise is a problem the HAF and 1200 sound like airplanes taking off. You might want to consider watercooling.