heh.. I think a lot of people are having a problem w/the term "midrange" because they *want* a midrange computer, but cannot afford the price of this one.
It's funny, because I've also heard that you, "cannot build a good gaming computer for under $1k." So, here we have $1.2k being "top end" and $1k being "too low for anything decent."
As has been said over and over, based on the market, this price point is almost exact for a *MID* range comp. The GFX card can be had for well under $300, which is half of the top of the line cards (even less than the soon to be top of the line cards). I think ATI's lack of competition would lead consumers to believe that, because ATI doesn't have a competing card, the GTS 320 cannot be percieved as "mid range" because it's already "king of the hill" (usually it's "either or" for nvidia/ati when it comes to choosing a top card).
The board is a good, solid board, and doesn't even touch on the higher end of the price scale for boards.
The memory is good and solid, but is also cheaper than the top of the line sticks.
Personally, I would have gone for the 6700, because as per the price cuts, it recieved the highest performance per penny increase (the highest cut in price). It is the top of the line "sub-extreme/quad" chip though, so perhaps that is too high? Again, I think the lack of AMD's ability to compete in this category makes the end user think that the king of the hill means it's too high to be considered mid-ranged.
I would have also gone w/the 7200.10 line from seagate, but the HDDs are basically personal pref.
I think a bit more power *could* be used for the PSU, but it's not really necessary...
All in all, I think this build is a near-perfect representation of what a mid-range computer should look like.