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IMHO if price is important, then I would suggest AMD over Intel, as you will get more "bag for your buck". Something like a 2100+ (which will overclock very well - normally) or if you are not planning to overclock then go for a 2400+ - which is very much the sweetspot between price and performance at the moment, and runs at 2Ghz.
For a motherboard, I would recommend nForce 2 for AMD, either the ASUS or ABIT offerings. The ASUS A7N8X Deluxe I have is very good (in my opinion), but might be a bit expensive for your budget, but they also do a non-deluxe one with cheaper sound and no onboard LAN or firewire etc.....
At the moment for videocards I would have to recomment the ATI 9500 pro (or non pro which is cheaper) over the Ti4200 (these are the cards that are within your price range IMHO). The 9500 performs better than the Ti4200, although the drivers are not quite as mature as Nvidia's... oh, and intial benches show that the Geforce FX5600 actually performs worse than a Ti4400 (closer to a good Ti4200)......
Anyhow - let us know what you decide on and we'll give some (hopefully unbiased) comments!
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AMD Athlon XP 2400+
ASUS A7N8X Deluxe nForce2
2x512mb PC2700 TwinMOS DDR
80gb Maxtor 7200rpm ATA-133 HDD
Sapphire ATI Radeon 9800Pro
CLabs Soundblaster Audigy II
Iiyama VisionMaster Pro 450 19in CRT
Windows XP Pro SP1
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