Although the difference between 7200rpm and 5400rpm HD is only 10 bucks it might not be worth it if she isn't doing any intense gaming, ripping MP3's or anything like it.
The 256 DDR ram is the best option and the XP1600+ should also be used.
NONE of the other components are really needed and don't add that much bang for the buck. You can always add the CDRW at a later date.
That might not hurt so much. You might be able to leave out the floppy if you want to save the 8 bucks. I don't use one at all anymore. Maybe you can salvage one from an old system. They last forever and people usually junk the entire tower, floppy included.
256Meg DDR ram is quite enough for almost ALL winblows apps.
The exceptions are autocad programs. I don't think she will be using these at home.
I see people blowing too much money on computers all the time. Stupid me, I sell them and try to convince people they should spend less. What kind of idiot am I???
If you want to save some real coin. Get a K7SEM-B mobo with a Duron 1200. You can find the combo for well under 100$. I can buy them for 120$ Can. about 80$ US. That is a wholesale price but retail is sometimes not that much higher. You can use the integrated video and sound.
I built that system for a friend who only does internet and some games. He is quite happy with it so far. It is CHEAP that is what makes it good for some people.