How's this for an upgrade?

[Zulu]

Here are my current specs.

Here is my proposed upgrade

I currently have a 500w Earthwatts's PSU, this came with the case of my last upgrade, can this cope?

 

[Cookeh]

PSU should be fine. Guessing the case is an Antec Sonata III?

Spec looks good, GTX460 is a cracking card (but I haven't seen benchmarks of 6XXX series yet).

Both ram and cpu are very overclockable. Personally, I wouldn't use that mobo - Id be more inclined to get this:
http://www.overclockers.co.uk/showproduct.php?prodid=MB-233-GI
First rate board, and proven to be able to take an i5 760 way above 4GHz!

 

[Cookeh]

Although, if you want to save money, you could pick up a second hand Q6600 (as the Q6600 is still a very strong cpu), and then get a new graphics card (such as the GTX460 you linked to) and another 2GB of RAM - or sell current ram and pikc up a matched set of 2x 2GB sticks,
such as:

http://www.overclockers.co.uk/showproduct.php?prodid=MY-190-CS&groupid=701&catid=8&subcat=813