Putting together a computer to replace my current one. Does this look ok by today's standards?

Looks just fine. I think your Intel processor is a good value and will support 64bit OS, Vista Home Premium is a decent operating system for non-Domain networks, your RAM is also "decent" although I think the two 512mb chips are a waste and you will find yourself replacing them with two 2GB modules within a year. I'd rather you stick with 2 1GB modules and upgrade later when it is a better value. You won't find much that use all 3GB of RAM at this stage anyway. I'd also recommend you get a Memory stick to take advantage of Vista's Readyboost feature (2GB). The video card is good (although I prefer NVidia cards for better stability and compatibility with games). Your drive is "small" for today's standards depending on what you use it for but plenty fast. You could gain a bit of performance by going to a 320GB drive as many of the "big guys" have a 16MB cache. The rest is relatively standard.