Follows is the configuration for a PC as recommended by TriniTechSquad members at the given budget, periodically scrutinized and updated.
Intel Version by Arcman, reference Toms Hardware
CPU: Intel Core 2 Extreme QX9650 :$1060.00
CPU Cooler: Swiftech H20-120 Compact Cooler Kit $36.00
Swiftech MCR220 2x120mm Radiator $15.00
Silverstone RADSUPPORT09 $5.00
Swiftech Chrome 3/8-Inch Fittings, 2-pack $6.00
Swiftech Plastic Hose Clamps, 4-pack $26.00
2x Swiftech 3/8-Inch Neoprene Tubing Packs $30.00
2x Scythe S-Flex SFF21E 120mm Fan $14.00
Motherboard: Asus Striker II Formula $320
RAM: Crucial Ballistix DDR2 800 PC2-6400 - 4 GB $100.00
Graphics: 2x Gigabyte GeForce 8800GTX - GV-NX88X768H-RH $840.00
Hard Drive: 2x Western Digital Caviar WD7500AAKS $300.00
Sound: Asus SupremeFX II Riser Card $0.00
Case: Silverstone Temjin TJ09BW $270.00
Power: Coolermaster RS850-EMBA 850W $200.00
DVD-RW: Toshiba Samsung Storage Technology SH-203B $28.00
Auxiliary Fan: Antec SpotCool Motherboard Cooling Fan $15
Floppy Drive: NEC 1.44 MB Floppy Drive $9.00
Total Price $3,400.00