College Student Upgrading Machine. Need Help!

[Morsong]

Hello all! I built my computer with the help of my cousin back in 2008. Obviously, it's time for an upgrade before I waddle into the wonderful world that will be PS2. Just moved to a new city for college so I still need to get my system set up and am typing in this on my macbook as of right now so I'll do my best from my memory. Here are my current specs for current said system:

-A motherboard that will support up to core 2 so new motherboard is needed

-Geforce 460 1GB (I think)

-4 GB but only 3GB is noticed since I only have Vista 32bit

-Core 2 Duo 2.53 ghz

-600 watt power supply

Since I'm a college student I put together my wish list for the components that I need the most. I plan on ordering these parts on Cyber Monday to save some cash and I also expect a price drop due to the holidays and new, and faster hardware coming out. So far my total is a little over $500.

I am average when it comes to tech and was wondering if I could get any input from the community on if this is a good upgrade, or if I can get any better deals.

- This gigabyte motherboard (http://www.newegg.com/Product/Product.aspx?Item=N82E16813128544)

- Intel i5 3.4 ghz (http://www.newegg.com/Product/Product.aspx?Item=N82E16819116504)

- Corsair 8gb Memory (http://www.newegg.com/Product/Product.aspx?Item=N82E16820233144)

- Windows 7 64bit (http://www.newegg.com/Product/Product.aspx?Item=N82E16832116986)

Like I said these are the parts I think I really need to upgrade, since I just don't have the money to buy an all new machine. Is this is a good setup, or can I save a bit more money by having a different setup but around the same performance wise? I appreciate all help since I'm on my crappy laptop and haven't played anything in months.

Also, is it a good idea to hold off on purchasing these items until Cyber Monday or am I just wasting my time?

[Rbstr]

You should probably be able to get 64bit Windows though your school for like $50 (heck, I get Ultimate for that price), instead of $100.

You can save money for this motherboard: http://www.newegg.com/Product/Product.aspx?Item=N82E16813157297 Or even a cheaper Gigabyte board, lots of stuff on there I don't think is really worth anything.
I'm a fan of the CPU...but you can save some by going with the 3450, if you don't care to overclock.
I don't like ram with silly heat spreaders. But it's fine. (this saves a few bucks http://www.newegg.com/Product/Product.aspx?Item=N82E16820148544)

The powersupply you have should be sufficient.

As far as waiting for cyber monday...Do they ever really have particularly amazing deals on current hardware? I don't know. New tech (especially CPUs) won't be out until spring.

The 460 is still decent, for now, I think.

[KimJongLulz]

Don't buy windows 7 from newegg if you're a college student.

http://www.microsoftstore.com/store/msstore/en_US/pd/Windows-7-Professional-Upgrade/productID.216644200

[Morsong]

And this is why I asked for opinions. Thank you so much you both. My price just got knocked down around $70 with both your suggestions as I changed my wish list. If I have the money I may even order this stuff soon so I can play something while waiting for PS2. Can't wait to get setup!