First, thanks a lot for all the replies everyone, I'm quite good with computers but I'm more with the software than with hardware so I really appreciate all the help you can offer.

Well I currently have a 17" monitor and a 6600GT (bought from OverclockerS) graphics card so I use a resolution of 1024*768 but obviously I'd bang it up a bit if I had games to play on that resolution and a better graphics card.
I use my current computer all the time and I've specced it up quite nice but I thought as I use it so much it wouldn't be too greedy to replace it with a whoppa.
The only trouble is I found all the components I want and it comes up to about £1000, don't get me wrong it would be a terrific computer and a great bargain but it may be cheaper to just replace my:
graphics card
PSU
motherboard
processor
RAM
Or would it?
Here's the components I chose:
Motherboard - Intel Extreme D975bx-304 975X (Socket 775) PCI-Express DDR2 Motherboard (MB-010-IN)
or
Asus P5WD2-E Premium Intel 975X (LGA775) PCI-Express Motherboard (MB-130-AS)
(about £150)
CD/DVD combi drive (no specific chosen) - (about £30)
Hard Drive (no specific chosen) - 250gb OEM (about £100)
Graphics Card - x1900XT/XTX (£250-350)
or
x1800x (£160)
Operating System Software (OEM?) - (about £90)
PSU - (not specific chosen)
But if I just gave my computer an overhaul then I wouldn't need a:
CD/DVD Drive
Hard Drive
Here's the specs of my current computer anyway:
eMachines 5240
CPU: Intel® Pentium® 4 515 Prescott (2.93 Ghz)
0.09 micron process
81mm² die
533MHz FSB
16k L1 cache
1MB L2 cache
RAM: 2.5GB DDR RAM - (2x 256 + 2x 1024 - PC3200)
Motherboard: Intel® D915GAGL-G1 "Augsburg"
Hard Drive: 160 GB Western Digital® Caviar® WD1600BB-00HTA0
CD/DVD Drive: Lite-On® SOHW-832S DVD/RW Combo drive
Write:
DVD+R 8x maximum by Z-CLV
DVD-R 8x maximum by Z-CLV
DVD+R9 2.4x maximum by CLV
ReWrite:
DVD+RW 4x by CLV
DVD-RW 4x by CLV
Read 12x maximum by CAV
CD Family :
Write CD-R 40x maximum by P-CAV
ReWrite CD-RW 24x maximum by Z-CLV in UltraSpeed disc
Read 40x maximum by CAV
Buffer Size 2 MB
Access Time DVD Family : 160 ms
CD Family : 160 ms
MTBF (Life) 70,000 Hours
Support OS Windows 98 / NT 4.0 / ME / 2000 / XP
OS Requirement Pentium III 450 MHz or faster CPU and 128 MB or higher RAM are required
650 MB HDD available capacity; and 5 GB free space for creating a DVD image file
Power Requirement +5V +/-5% and less than 100 mVp-p ripple voltage
+12V +/-5% and less than 200 mVp-p ripple voltage
Sound Device/Card: Integrated Realtek High Definition Audio (5.1)
Graphics Card: 6600GT 128mb
I use my computer for work, play, browsing and whatnot.
What would be the best options? upgrade? completely replace?
Thanks again everyone, if you need anymore information just ask, I'm bound to have missed something.