PSU sounds terrible. Get yourself a Corsair 450W VX. It will do the job fine.
That case.. not to my taste. If you are new to building I would get something that is known to be easy to work with.
With that sort of money I would get the coolermaster CM-690 or Antec Solo.
The motherboard / CPU/ RAM bundle is OK but MSI are the budget end of things. I would rather go for a cheaper CPU such as the E5200 pentium dual core and an Asus P5Q PRO which are very easy to work and build with.
4GB of DDR2 RAM if around £46 on
www.scan.co.uk/todayonly. And mentioning scan I would use them for you all of the parts mentioned. Better prices and great customer service.
I wouldn't bother with the sound card the motherboard will have more than adequate onboad sound.
Storage, a Western digital 640GB Caviar Blue is awesome at around £45 on that today only page.