Why in the world waste money on a P45 board with that CPU? It would be at 4.3 GHz at only 333 MHz FSB, which even a $40 motherboard could do, and I can't imagine it would go further than that, as I have an E5200 that gets to 4 GHz at max safe voltage. They appear to have a FSB wall there, regardless of the multiplier setting, so spending more money on a motherboard with no significant feature but a potentially high FSB does no good.
Don't fall for the trap of buying a fancy heatsink for this sort of CPU. You'd just be burning money. I believe the E5300s are the newer stepping and will run cooler, while the E5200s are the old one, and using a stock heatsink, it didn't go above 72C when I stress tested it at 4 GHz and 1.425v.
The integrated graphics is a toss up to me. Some are pretty decent, like this:
http://www.newegg.com/Product/Product.a ... rce%209400But again, you could completely cheap out on the motherboard, and buy a cheap video card, and it would kill that.
I think you need to be more specific. What is "a decent monitor?" Do you already know what resolution you would be using? I think that's the important part. I got away with a mere 6600GT for the longest time, since I was only running 1280x1024, and the thing only has 128MB of RAM, which is what hurts it in the end. You don't need these crazy new cards for that. However, while a lot of cheaper and integrated ones have 512MB, they are very low bandwidth, so if you're running a higher resolution, you will have to step up a bit.
If you can hold off for a little, I would. New Nvidia and ATI cards are both coming out in January, so the prices are probably going to change quite a bit very quickly, and if ATI makes new 5000 series low end cards, those will undoubtedly be the thing to get.