Suggestions on a New Rig

Right now I am aiming at ->

INTEL Core i7-950
ASUS Rampage II Gene
CORSAIR XSM3 - DDR3 - 3GB X 2
ATI 4890 OR XFX GTX 275 (which is better?)
1TB HDD WD OR SEAGATE (which is better?)

Also I am looking at CoolerMaster Storm Scout, if you know any better, I am all ears. Also a good cooling system would be great.

Any suggestions appreciated.

PS; I am in India, so try and make sure what you suggest is available here!

what is your budget ?

well, 80k INR MAX

with that budget forget about that CPU and even if you can manage to scrape through it won't be worth it.

Go for a Intel i7 860 along with P55 mobo. Get 2 X 2 GB DDR3 1600/2000 RAM and as for the GPU go in for a HD 5850 or higher.

CPU: Core i7 920
Cooling: Prolimatech Meghalems
Motherboard: Gigabyte X58 UD5
RAM: Gskill Trident 3x2GB 1600Mhz CL7 / Gskill Trident 3x2GB 2000Mhz CL9 / OCZ Flex 3x2 GB 1600Mhz CL7
Power: Corsair HX 620
Graphics: HD 4890 (you can get yourself a nice DX11 GPU sometime early next year)
Display: Samsung P2350 23" Full HD Monitor
Cabinet: NZXT Tempest/CM HAF 922/ Any decent mid/full tower of your choice.
Gamepad: Xbox 360 Controller for Windows

Optical drive/input devices/accessories/HDD as per your choice,preference and budget.
This is just a rough template for you to work with, mix and match according to what you want.

PS: When is this purchase going to be made? How long can you wait before you buy the setup?