I would go down to Fry's and see what mobo/cpu combos they have (brand, speed doesn't matter really. Newer intel dual core 2.2ghz or faster would be my preference). Then, get a decent but cheap case, antec power supply, corsair ram, and a 80gb solid state drive w/500 or 1tb drive to use as secondary storage (aka put your operating system and games on solid state drive, movies, mp3's other crap on secondary drive).
I think you could pull off the above for about 500$ or less.
I think you could pull off the above for about 500$ or less.

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