I think it may be better to go for AMD X2 3800+ and ASUS M2N8-VMX bundled for less than 7.5k instead of P4 bundle for 8k... The above config does not include monitor - 15" CRT is basic, but you may want to go for 17" CRT if the rest of the budget is okay... Also, I think that with 7600GT, Palit brand was available at 7.5k as per PC World March 2007 edition... Other things to consider would be Combo drive/DVD-Writer and a good casing with decent SMPS
BTW, I notice the 2.1 speaker costs rather high... You can instead go for Creative Inspire 5.1 which will work out much cheaper...
Arun