Here is what I am thinking so far:

CPU - IntelЎ Core™ i7-950 Processor (8M Cache, 3.06 GHz) - Ѓ200

GPU - nvidia geforce gtx 580 - Ѓ336 for 1

Motherboard - Asus P6X58D-E - Ѓ150

RAM - Corsair DDR3 (6x2GB) - Ѓ135

Sound - sound blaster x-fi titanium pci express - Ѓ70

Cooling - Titan Fenrir EVO cpu cooler - Ѓ35

Power - Corsair CMPSU-850HX ATX12V & EPS12V Power Supply - Ѓ126

Case - Antect902 - Ѓ90

Haven't got a cd drive or networking yet, but that is cheap.

Post any improvements you can think of for similar prices