Yea, I'd love to pickup a Mobo/CPU/RAM cheap and just swap them out. I've got everything else (case, PSU, drives, extra HDDs, etc). Keeping my eye out for anything 3.0Ghz or higher with dual, tri, or quad core. If I can stay under $50 via craigslist or somewhere else, I'd be happy with the cost.
On a sidenote, I found a local place selling 4:3 LCD monitors super cheap. I bought a 21" 4:3 for $25, perfect for my MAME build until I find a ridiculously cheap larger one (or decide to spend the money to go ArcadeVGA old school).