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I am new to the PC building scene, but have been a PC gamer since I was about 7. I've been wanting to build a gaming computer for a long time and have only recently been able to aquire the funds as I have stopped purchasing PS3 games and accessories. I am looking for a computer that is slightly better than mid range and can also handle video editing and rendering. I am also on a budget of ~800 Australian Dollars excluding mouse, keyboard, speakers and monitor.

The parts that I have been contemplating for purchase are:

CPU: AMD Phenom II 555 DualCore 3.2Ghz 80W Black Edition (two extra cores unlocked from motherboard BIOS)

Mother Board: Asus M4A87TD - USB3 AMD3 4X DDR3/6X SATA Raid/Gigabit LAN (Sorry if this one was confusing)

RAM: G-Skill 4GB (2x2GB) DDR3 1600 Mhz 9-9-9-24

Hard Drive: Samsun 1TB Spinpoint F3 Sata II 7200 RPM

Optical Drive: LiteON IHAS324 SATA DVD-RW 24X Black (Was one of the cheapest ones I could find)

Graphics Card: MSI GeForce 460 GTX

Power Supply: CoolerMaster 650W Extreme Plus (I am thinking of downgrading to ~500W because I was told I wouldn't need more)

Case: PCCool Thunderstorm 3000 Midi Tower Case

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If you could post suggestions to improve my performance to price ratio it would be greatly appreciated.

Also, do I need to purchase a separate sound card or will my MoBo cover it?

Edit: Forgot to say Thanks in advance!