Processor: core2duo 2.4ghz
motherboard: to support ddr3 memory
ram: 4gb ddr3 1600mhz
hdd: doesn`t matter
monitor: crt or lcd
mouse and pad: what do you prefer
Processor: i3 or better
motherboard: to support 8gb ddr3 memory
ram: 8gb ddr3 1600mhz or more
monitor: good crt or 120hz lcd
keyboard: gamer keyboard, what do you prefer
mouse and pad: gamer mouse/pad what do you prefer
headphones: gamer headphones what do yoy prefer
Processor: Intel I5 2500k
motherboard: Asus P8p67 Pro or Delux 1155LGA
ram: Kingston ValueRam 2x2GB 1333mhz
hdd:500GB or 1TB depends on u
gfx: GTX560-ti or GTX 570
sound: i always use the onboard
power supply: 600 to 700 watt from antec,seagate or corsair.
casing: nzxt Lexa S
monitor: personal preference
keyboard: Steelseries 6gv2
mouse and pad: personal preference
headphones: personal preference
If you want to overclock 2500K you need some aftermarket cpu cooler (cm tx3 evo or something like that for example, it's like 20 euros) and with this motherboard, cpu and cpu cooler you can easily overclock it to 4.5GHz making it the best cpu for that money by far imo. And maybe consider 2x4GB of ram (it's cheap).
Depends on which PSU. Power is not the only characteristic that makes one PSU better then another. It depends on design, performances and quality. There are PSUs that have more power but practically they are weaker than some which have less watts (example, seasonic ss-400et (400w) and lc600h-12 (600w); seasonic ss-520gm (520w) and LC Power Ozeanos II (650w) etc).
I recommend seasonic ss-520gm for this configuration. It can easily run it and it's very silent.
But yeah, I agree that 700w is pretty much overkill in any case.