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2.8 Ghz P4, 120 Gb hard disk, 128Mb ATI Radeon video card, 512 Mb RAM, 19 inch CRT flat screen monitor.
Dell's price: $1,899
My price: $1,371.44
Amount saved by building this system myself: $527.56
And yes, the price for building it myself even includes a legal copy of Windows XP.