That is really expensive for a 500 gb drive. Here's a link to a more reasonably priced
500gb and
1tb drive (which is only slightly more expensive). That PSU is good value too.
The new bulldozer AMD processors are coming out soon if they haven't already been released, which should be better than the Phenom II x4, although Intel processors have generally much better benchmarks because of superior architecture yadayada, bottom line is AMD is better bang for your buck.
The motherboard is well-priced however I have heard complaints about Asrock motherboards, i.e. BIOS poorly translated, problems with flashing, compatibility with RAM, stuff just generally failing. the fact that Asus won't put their own name on these boards says a lot. However I think for almost all users they work out ^^