Ahh no. Core i7 was more designed as a professional board. It was not designed with gaming in mind. Yes it can overclock but still it is more of a 'professional' chip/mobo.
Unless you have CS4, Photoshop cannot utilize a quad, so a dual core will do just fine.
Here's what I would recommend.
Intel Core 2 Duo e8400
Thermaltake Ultra 120 (depending on if your Overclocking)
Gigabyte GA-EP35-DS3L or Asus P5Q Pro
Antec 300
Corsair VX550W
WD 640GB HD (maybe 2 in raid 0?)
4gb of 1066mhz ram (depends if your overclocking, if your not, put some money on CAS4 RAM)
For graphics it depends on what you want.
If you have a 24" monitor, either get a 4870 1gb or a GTX 260+ 216
if your monitor is smaller, get a 4850 (look at the new sapphire model, it's got a nice cooler)
Yea that's it