JD, Gateway bought... dum dum dum "eMachines"
I would look at one of their AMD 64 systems as a starting point. At one time they used off brand low grade Hardware when starting out. It left the system cheap in price and even cheaper in quality, but since the drop in Hardware for higher end parts over the last couple of years. They have been getting name brand parts in quanity which has let them keep their pricing very low and quility extreamly high.
for instance...

$669.99 - mail-in rebate $50.00 = $619.99
http://www.emachines.com/products/products.html?prod=eMachines_T3085
CPU: AMD Athlon™ XP 3000+ Processor
QuantiSpeed™ Architecture operates at 2.167 GHz
512KB L2 cache & 333MHz FSB
Operating System: Microsoft® Windows® XP Home Edition
Chipset: nVIDIA® nForce™2
Memory: 512 MB DDR (PC 2700)
Expandable to 2 GB
Hard Drive: 160 GB HDD (7200 RPM)
Optical Drives: DVD +/- RW Drive (Write Max: 4x DVD+/-R, 2.4x DVD+RW, 2x DVD-RW, 16x CD-R, 10x CDRW Reads 40x CD, 12x DVD), 48x Max. CD-ROM Drive
Media Reader: 8-in-1 Digital Media Manager (USB 2.0, Secure Digital (SD), Smart Media, Compact Flash, Memory Stick, Memory Stick PRO, Micro Drive, Multimedia Card)
Video: nVIDIA® GeForce4™ MX graphics (1 AGP 8x slot available)
Sound: nForce™ 6-channel Audio
Modem: 56K* ITU v.92 ready Fax/Modem
Network: 10/100Mbps built-in Ethernet
Peripherals: Premium Plus Multimedia Keyboard, 2-Button Wheel Mouse, Amplified Stereo Speakers
Dimensions: 7.25"w x 14.125"h x 16"d
Internet: AOL 3 month membership included, click here for details
Ports/Other: 5 USB 2.0 ports (4 in back 1 in Media Reader), 1 Serial, 1 Parallel, 2 PS/2, Audio-In & Out
Pre-Installed Software: Microsoft Works 7.0, Microsoft Money 2004, Encarta Online, Adobe® Acrobat® Reader™, Microsoft Media Player, Real Player, PowerDVD, Internet Explorer, Roxio Easy CD & DVD Creator Basic, CompuServe®, AOL (with 3 months membership included**), Norton AntiVirus 2004 (90 day complimentary subscription), BigFix®
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You can upgrade with 3rd part products as you like...
Or with the ones they list on the site...
But... It is a solid combination and system for the price.