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You can pretty much cut the dell price in half by building the machine yourself
Really depends, but recently it's not been my experience that Dells are horrendously overpriced (unless you tack on the options, then they really stick it to you).
My biggest beef with them has been their deliberate incompatibility fiascos, like switching the power pins on the PSU and motherboard connector, which basically will fry any other board you put in there.
They like to brag about their support, but it's just the same crap as everyone else.
Got a problem? Reformat, but first hang up so that your call does not exceed 5 minutes.
They will replace your components if they think it's a problem, but so will Gateway and everyone else on the planet.
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and your new system specs are nice to say the least
I wouldnt get real excited about an FX5200 non-ultra, which could very well have an atrocious 64 bit memory bus that will completely kill performance of the already anemic GPU, but I play too many games for my own good.