You are definitely going to need more hard drive space than just one 74GB raptor, so I would add a 500GB Samsung to the mix, like this one.

Spending £70 on only 2GB of 6400 memory is a complete waste. If you want to spend around £70 on RAM, then this won't let you down. Or, if you don't mind going up to £80, this RAM will be even better and help you overclock. That is the RAM that I have .

PSU looks fine, especially because it is modular. If you are buying the TR Ultra Extreme then you don't need to get the retail CPU which comes with the stock Intel HSF. Get the OEM version instead which is usually cheaper.

By pure coincidence, I have that headset. The version I have however isn't USB and 4 high quality jacks that go straight into my Creative X-Fi Extreme Gamer - Fatality soundcard. USB made little sense in my opinion.

In regards to monitors, I would recommend that you at least get a large monitor for main use such as gaming, since that doesn't work so well on dual monitors. Then, add in another monitor for other things, like MSN as you said. Within a month, I will be ordering a new 24" monitor and I will be using my old 19" 4:3 next to it for other things. Luckily, a 24" widescreen and 19" 4:3 are exactly the same height!

Other than the above, looks like a nice rig .


EDIT: added details about monitors.