Here's the new full specs of the system I'm going to build.
AMD Athlon 64 3200+ 2.0GHz Socket 939, 512KB, BOXED w/fan (€160)
Point of View GeForce 7600GT 256MB, PCI-Express, DVI/Tv-Out, Retail (€219)
Gigabyte GA-K8NMF9, nForce4-4x, m-ATX, Socket-939, 4xSATA, LAN, Firew, PCI-Ex16 (€71)
TwinMOS PC3200 DDR-DIMM 1024MB Dual Pack Kit w/two matched PC3200 DDR DIMMs (€91)
Maxtor DiamondMax 10 160GB SATA2 8MB 7200RPM (€75)
The core parts above will cost me €616 which I think is pretty good. The graphics card is the dearest thing at €219 but I think it's a very important item in a games system.
I'll add a case with 450w psu and a good 19" flat screen monitor to complete the system and the whole thing should cost less than €1,200