Good call - Cheap and effective. That is how I roll
Save the major upgrades for next year - and I'd still consider upgrading your LCD before you drop ~$600-$800 on an i7 Upgrade - the LCD is your interface to the PC afterall, and is generally the single BEST place to improve your PC experience in general. 1920x1200 FTW!!! NTM, your current Video Card is still goig to be the bottleneck in an i7 system - so i7 really wouldn't be a very cost-effective upgrade at this juncture (new CPU, new MoBo, new RAM, new Video, new PSU = LOTS of cash)...