Hey there groovy chick! HAHA
Yeah that system seems quite good. Depending on what you are going to use the system for, you may want to consider downgrading the ram to 256mb and a upgrade to a 1.2ghz Tbird. There is not much use for that amount of memory at the moment and it will easier to upgrade later then the CPU will.
You could also maybe try a "MSI" mainboard instead of the Asus one, they are cheaper and actually a little more stable, but Asus still very good. There is also a mainboard from Abit that has a Raid, and since you seem to have a little money you could maybe use this feature to it's full advantage.
I have never heard of a IDE Seagate Hdd with 4mb of buffer! Are you sure you have not made a mistake? If you were are talking IDE Hdd's the IBM 75GXP would be a better choice for speed.
Ummm..Rest of system looks good!
Cheers..