msy is the spawn of satan. avoid at all costs.
they never have stock, they have less than zero customer service, and their after sales service is even worse.
1st off. what is your reason for wanting an i7 build? if its for future planning for 8 core cpu's, then go for it. if you just want a fast quad core, go AMD. will save you money for better components.
but, assuming you really want i7, this is the build I would do. just my opinion of course.
always get the BEST mobo you can afford. its the base that all your other options will work off.
Asus P6T Deluxe or Asus Rampage II
Intel Core i7 920
6gb GEIL/G.Skill/Corsair
Western Digital 500gb (x whatever quantity you want, maybe in a RAID setup).
G.Skill Falcon 64 or 128GB SSD (believe me, this makes a massive performance improvement).
Pioneer/LG Blu-Ray
sub $200 card, i would be going ATI 4870 or 5770 (sapphire would be my brand preference). or $250 will get you 4890's.
Case: never underestimate the value of a well designed case. i cannot recommend the Silverstone Raven RV02 highly enough for a sub $200 case.
PSU: i wouldnt touch OCZ or Corsair PSU's with a barge pole. very high failure rates. stick to the likes of Antec, Coolermaster, Seasonic, Thermaltake, etc.