I didn't want to go over $250 because I'm building an X79 machine at the same time.
So far I have:
$30 - Asus M5A78L mATX AM3 Board
$30 - PII 560 BE
$free - OCZ 600w PSU
Had already Fractal Arc Mini
Had already 2x 320GB laptop drives
So basically I need RAM and a GPU, I'm thinking of retiring one of my 580's to this rig if it can handle it. The CPU will be water cooled, I grabbed a raystorm block for it along with the rest of my order from performance pcs for my X79 machine. I'm trying to scrounge up an old MCP350 pump, my buddy has one I can trade some fans for. I have plenty of fittings and tubing so I think this will come together under budget really well. The board and CPU should be here tomorrow so I might start a build log.