A few things:
This Gigabyte board is nearly identical to the one you were looking at, except it has an HDMI port, which I believe you said you wanted. You won't "lose" anything by going with Gigabyte. They make terrific mid-range motherboards.
The 750W Corsair, while a terrific PSU, is overkill for this build. Going with a low-end video card (such as the 9600GT), or possibly no video card if you get a motherboard with built-in HDMI, means you won't need that much power. This 500W OCZ PSU will be more than capable, is much cheaper, and is modular, which will help your case look nice and tidy.
You say that you want to get another hard drive so that when you reinstall the OS, you won't lose data. You could just create a partition on the hard drive you already have (which basically makes it so that the system "sees" two hard drives).
Also, any particular reason AMD has been chosen for this build? Similarly-priced Intel CPUs will encode/render faster than the AMD CPUs you are looking at.
Awesome! I've never built a PC before, and I was unsure of how much power would be enough. That saves me a good amount of money!! I'm more than likely going to be able to have all my parts ready by the end of this month for assembly.
I definitely was thinking about a mobo with onboard video since I don't do hardly any gaming at all, but
Reason why I'm going AMD instead of similar priced Intel is that I plan on OC'ing (eventually). Aren't most of Intel's chips shipped with a locked multiplier? I was originally looking at the Core i7 920 simply because it's unlocked.
Now, as far as rendering goes, I didn't know that the Intel chips render faster than the AMDs. Before I go out and spend my money on an AMD setup, would you be able to show me a really good Intel setup for about the same price that I'm looking at already (or possibly cheaper)? My main concern is not so much future-proofing, but future delaying. I want to be able to seamlessly play HD video (which is why I wanted an HDMI port, for when I eventually get a 1080p TV). I also want to speed up DVD authoring and burning (which takes 4 hours for a decent quality 2 1/2 hour DVD currently with my P4 3.2gHz.)
Anyway, all of your help is appreciated. If you can find me good quality cheaper alternatives for some of my parts, or if I'm too much into overkill, I'm open to suggestion.