hi,
doubts
is it priority that i pick up WD or corsair brand for my hdd and ram or can i sub it with other brands with almost the same spec?? (samsung or seagate or kingston)
people are having a lot of problems with seagate, so try not to buy it. You can get kingston for RAM, but not much difference in price.
Processor
is a 0.2 Ghz difference going to affect my PCs performance to a great extent or is it negligible?
You won't get a chance to compare the two, so, the faster the better
Motherboard (i don't want to OC)
what is it that i should look for (expansion slots??)
expansion slots, RAM slots, SATA ports, eSata, USB 3.0 (rare for now), layout, audio quality, IGP performance etc.
I don't have very good knowledge of motherboards, but they do effect transfer rates and performance somewhat.
RAM
what should i look for optimum performance?
Good clock speeds and latency figures, but at a budget, you can't even get into that
HDD
it is RPM i guess that decides the performance or is there anything else?
The amount of cache, most 500GB drives have 16MB, WD Black has 32MB, but is expensive as compared to 16MB cache HDDs
graphics
am clear about what to expect
Good
power supply
how do i calculate what power is required for my pc?
you can look online for reviews of the components you purchase, you'll get a rough idea
Monitor
are all LCDs available with an HD option? or i have to specifically select one
how important is an IPS panel?
Genrally, HD resolutions are not easily available in sizes below 22", check the resolution before you buy.
IPS panels are capable of displaying 8bit per channel i.e. 24bit true colour, so colours look much better on them. It is recommended if gaming & movies are your primary usage. Go for a dell IPS panle if you can afford it, will increase your budget by around 9-10k
hope these doubts don't sound amateurish
regards
Lnhrt
we are here to clear your dubts!