1 easy saving is your monitor. If you have room get a crt 17" for about 50 quid, and it will be better quality! saves £120
I got 2 x 21" for 190 quid!
Creative Sound Blaster® Audigy 2 ZS 7.1 - don't think you need this, maybe something you can save up for in the future if you want to upgrade!
Doesn't the motherboard you quote have on board surround sound??? saves 65
I'd deffo recommend a bigger hdd, they are cheap enough, 200 gig for about 90 quid. - adds £50
XFX GeForce MX4000 64MB DDR TV-Out (PCI) for 32.84 saves £80
total saving £215!
2 x 21\" HITACHI super contrast monitors.....2 x 200 gig HDD\'s....2 x 512mb dane-elec pc3200.....TV in card (cheap and sh!t!)....3.2 P4 HT....BOARD - ASUS P4C800 - C delux (fsb 800mhz DUAL DDR 400)....GRAPHICS - ATI 256ddr POWERCOLOUR Radeon 9600XT (500mhz/400mhz)....MATROX RT.X100 real time editing card