I think after you fly FSX you may reconsider the "I dont need secenery" thought
If you are looking to place yourself in a system that will carry you for 2 years (up to FS11) and allow upgrades in video card and possibly processor and memory again then i7 would be the way to go however, i7 920 unclocked is not the way to go.
The i7 line of processors are easier to overclock than the Q Core2 of the past. If you do not intend to clock then I would at the very least go with the i7 940 and you can still clock that processor should you decide to at some point.
A 940 will clock to 3.4Ghz without any special cooling but will require a larger heatsink to clock higher. All of the i7 processors will reach 4GHz with the 940 getting there easier than the 920.
Memory choice is based on if you intend to ever clock or not. If not, 1333 memory is fine. If so 1600 memory is suggested to cover you in clock calculations. In either case you always want the lowest timing memory possible for best performance.
i7 requires special DDR3 memory which is rated no higher than 1.65v and comes in tri-channel kits (3 sticks)
sticks come in 3x1GB and 3x2GB kits
In order to make use of more than 3GB you need to be on a x64 operating system.. either WindowsXP x64 SP2 which is what I use or Vista x64. You can run a 32bit OS on more than 2GB but it will be limited to accessing a max of 3.2GB or less and only with special OS boot file tweaks for VM.
I guess the next question is, what are you looking to spend.
You will need to build from scratch which means a purchase of a tower, PSU, HDD(s), memory, processor and possibly CDroms if what you have there is old. You will need DVD drives to install FSX.
You cant use HDD's from that old system,.. they are too slow
When considering the cost, remember that what you spend now will determine what you get for the next year or two
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