Ah, crap. Everyone is being helpful and I can understand like 30% of what you guys are talking about. Let me do my best...
@JamesLT3, water cooling is an option. I am completely unfamiliar with the best types of cooling/heat management stuff so if that's the best way to go then I'm up for it.
@Doctor_Death, how many GPUs do I need? I was originally looking at the EVGA GTX690, mistyped it as the 670 in my original post. I feel like right now I'm comfortable planning on having just the one with room for more if the budget allows it in the end. The processor I was looking at was the Intel Core i7-3930K. I pretty much just googled around and found it, I have no idea if it's overpriced or if I could get something almost as good for a lot less. As far as RAM, 16gigs would be really nice and is something I am hoping to get, but in the end 8 at the very least. I mean... what's the limit of RAM you can cram in there? Is that dependent on the mobo?
@Cyberburnout, some video editing and encoding is on the plate for me but I feel that the stuff I'm looking at right now will more than cover those needs. Honestly a $700 rig off the shelf would probably more than do it for me, but I'm pretty young and currently able to waste money on cool stuff I don't need. I'm sure this is going to be obvious, but what's Crossfire?
@PoLoMoTo, this sounds like a pretty nifty idea, also I understood it all the way through.
@Solara2xb, thanks

I am definitely not opposed to going under budget on this project.
To try and be more specific, I am not doing any extreme computing that would necessitate a machine as powerful as the one I want to build. I want a well-rounded computer and I don't really need to put a lot of focus in to making it really good at one particular thing.
I don't have all the money to start working on this thing just yet, my current goal is to start buying parts at the end of March. Is there a pretty good chance new technology will be available by then?