This seems good, based on reviews. However, I'd probably take a good widescreen LCD, such as
this or
this. They get higher resolutions, particularly at this price point. I also tend to prefer widescreen, though some games don't really give proper widescreen support. I'd get
this if I could afford it. It's a little better than those others. Take special note of the resolutions of each of these monitors. I wouldn't really recommend the first one I linked for a gaming system because it has a fairly limited resolution. I like to run at 1440x900 or better for 16:10 monitors and 1600x1200 for 4:3 monitors. If your friend isn't too hardcore, he can probably handle the resolution limitation of LCDs in the sub-$250 price range, but I know I'd be unhappy.
This looks pretty nice for RAM after MIR, though I tend to avoid rebates where possible.
This is what I use myself, and it handles 2-2-2 up to at least 205MHz, so it (and that OCZ and just about anything in the price range) should handle whatever you throw at it, as long as you use dividers well. Most high-quality PC3200 sticks have plenty of overclocking headroom if you loosen timings.