long term is is more efficient to have a multi CPU set up (SR2 for example) but this obviously comes with a much greater up front cost.
best i would say is go for a decent brand of PSU (corsair for example) doesn't matter if it is bronze, silver, gold or platinum rated but the higher the better.
ram doesn't really matter so so whether it is slow DDR2 like 800MHz or DDR3 at 2000MHz it makes no difference.
you could always go for a old dual xeons workstation off ebay they tend to go quite cheap and have a lot of power
for GPUs i would suggest at the moment a GTX560Ti is the best performance per watt card and a couple of them brought used make for epic PPD though they are like gold dust if buying used (bare in mind that the cards can run on PCI-E2.0 x4 and still not get a drop in PPD).
stock heatsink should be fine if you aren't overclocking but then it depends on the CPU you would end up getting
hope this helps