Surely he should get :
Asrock 939Dual-SATA2 (Socket 939 & Upgradable to AM2) AGP & PCI-Express Motherboard (MB-002-AK) £36.95 (£43.42 Including VAT
Tagan TG480-U01 480W ATX2.0 SLi Compliant Silent PSU (CA-000-TG) £50.50 (£59.34 Including VAT
AMD Athlon 64 3700+ San Diego (Socket 939) - Retail (CP-121-AM£77.95 (£91.59 Including VAT
GeIL 2GB (2x1GB) PC3200 Value Dual Channel Kit CAS3 (GE2GB3200BDC) (MY-046-GL) £114.95 (£135.07 Including VAT
£295.00 ish before delivery changed the cpu to retail as i don't know what sort of cooler you have, you could then sell your old parts and get a more powerful graphics card. Current one is still good enough, unless your monitor is huge.