Some words of wisdom for you...
Yes get a P4, but realize for some strange reason the 3.2 outperforms the 3.4 so don't waste your money on a 3.4 until they get it sorted out.
Another thing, hyperthreading is fine but it's support in WinXP is buggy. You will get blue screens from time to time if you enable it. I run Win2K with HT off on my 3.2. I can't speak for Linux.
Cool components are good and they last longer but the MTBF for a good hard drive is over 100 YEARS (1.2 million hours on WD Raptor) So don't go nuts with loud, annoying fans. You want the largest fan that spins at the slowest RPM. I built using Zalman heatsinks, double bearing fans, and CPU cooler and my rig is VERY QUIET. (Also an Antec Smartfan 120mm for case) I also lined my case with sound absorbing and blocking material to give it that final touch.
Stay away from ATI graphics cards. They are fast but the drivers are crap and they will crash/lock up your system.
I highly reccomend newegg.
JMHO.
p.s. don't forget your static strap.
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