I have $700. Please help me with a build

I have a $700 budget.  I have a shitty monitor that I can use for the time being, but a build that includes something like a 19" or higher widescreen monitor is awesome.  Will be used for mainly gaming.  I will probably do some music recording via firewire (I already have a firewire card), but the few seconds/minutes extra of recording/processing time is not an issue for me.  I would like higher RAM speed/GPU performance as a number one priority.  Any help will be greatly appreciated.  I built my buddy a 2500k i5 system based on the P67 chipset not too long ago that works very well with zero custom computer building experience.  So I thought I'd pick your brain on what I should do.  Thanks in advance for any info.

http://pcpartpicker.com/p/KHza

Nice build!  I'll play around with this build and see if I can tweak it at all.  Thanks for your effort!!

 

P.S.  Why does it not support crossfire while having two pci-e16x slots?

I second the build that Secret posted. Seems like a pretty sweet rig for the price. I envy you guys in the States sometimes! Even though the Aussie dollar has basically the same value as the US dollar internationally, we still pay more for all of our parts here due to a small population and large shipping distances. Newegg also won't send stuff here!

http://pcpartpicker.com/p/KJtT

Imo it's better to a pretty good setup and upgrade from that rather than having all that on an old monitor till' you can upgrade. Can switch the phenom/cooler for a 6300 if you prefer, I'm just lovin this thing for 99$.

I like that build as well.  It also supports crossfire if I decide to add another card.  Will 600w be sufficient for two 7850s in case I want to simply add one more of those cards?

Yeah it can handle 2 7850s.