ahhh, stop saying that. Why would you waste money on an imac when you could buy something useful like 1200 dollars worth or toilet paper or something. Something that will really come in handy and you'll be glad you invested in.
But in response to your question:
-1.2 T-bird
-256 DDR Ram
-Epox 8k7a
-Taisol CGK760 HSF
-Toshiba 12x DvD
-IBM 40gig HD@ 7200rpm
-Floppy Drive
-GF2 pro/ Kyro 2 (depending on how important 2d is)
-TB Santa Cruz (or Herc GTXP if your into your sounds and like the box with the extra usb ports)
-Antec sx830 case w/ 300W
-Samsung 955DF 19" Monitor
-Speakers are up to you depending on how important sound is, the BA 4800 setup seems to be popular and the Klipsch setups are really powerful but probably too expensive.
-Mouse, Keyboard of your choice
This should come out right around your 1200 mark and be a damn good system