IMO it's not cost-effective to buy anything but one of the new P55 boards with one of the equally new core I7-860's if you were to buy RIGHT NOW.
Thing is, I'd personally wait a bit until they start releasing SATAIII boards... maybe new build for Christmas? Also, DX11 cards are coming just in a month or two... I'd really wait to see prices/performance on those before buying anything right now.
There's a reason that walmart PC is cheap (within the store)... it's kind of older. 9800 GT wouldn't really cut it for me either...
BTW I also think that PC is seriously overpriced (comparing to prices outside of Walmart).
Check this config out:
http://secure.newegg.com/WishList/PublicWishDetail.aspx?WishListNumber=7748189
For $300 more, you can have a FAR better PC (almost enthusiast grade)... with badass tight-timing memory, brand spankin' new CPU with hyperthreading (4 physical 8 "logical" cores), a very high-performance CPU cooler, badass case, keyboard + deathadder (ownage) mouse included, a GTX 275 (which should be about twice better than the 9800 GT probably), a fuckin' sweet case, and to top it off a 1.5 TB hard drive...
Expect to overclock that CPU to 4.0Ghz with that cooler too... if not more (with some tweaking / higher fan speeds). Memory should also run tighter or overclocked than at advertised speeds.
If you want to spend even a bit more, you can get a SLI mobo / another video card / second HDD for RAID-0 or even two SSD's for RAID-0 / etc... but as it is, I think it would kick major ASS, and definitely would be MUCH better than that piece of shit above from walmart... just my 2c.
P.S. Do not actually go ahead and buy the cooler above. I'm not sure if it will fit in that case (it's quite tall), nor am I sure that it fits the new socket type for the P55 mobos (gotta check)... the rest should work A-OK together. I just threw it in as an example. If you really want to buy something right now you can talk about the config above to me or soulzz on vent if we're on... or post here.
Like I say, I'd really recommend waiting a couple of more months for ati/nvidia to both release their DX11 cards and the new processors' / p55 boards' prices to go down just a bit.