The Asus commando is an old chipset mate, great board but pointless getting a 965 chipset now.
The alternative is good, but it all depends on how much you want to spend and what features you need. Do you really need external sata or will you in the future? Do you really need built in wi-fi?
If spending £100 I would go for the Gigabyte DS4, but for £70 the DS3R would be fine, but it does not have firewire so if you need that then your looking at a £100 board.
I agree on the Corsair PSU, get it, amazing for the price, built by Seasonic who to me are the daddies of the PSU world but blumming expensive, so go for Corsair, same build quality just a different name and cheaper price, and they are very quiet mate.
Ram, for the price you can't go wrong with OCZ Platinum series or Corsair XMS, get 800mhz stuff.
Here are some options for you mate:
Gigabyte GA P35 DS3R iP35 Socket 775 8 channel audio ATX Motherboard £70
http://www.ebuyer.com/product/136365
My personal choice, I think it's the best mid range board you can get.
ASUS P5K AiLifestyle Series iP35 Socket 775 eSATA 8channel Audio ATX Motherboard £70
http://www.ebuyer.com/product/129125
Close to the Gigabyte but has some issues, may have been a bad batch.
MSI P35 Neo-F Socket 775 FSB1333 onboard 8 channel audio ATX Motherboard £59
http://www.ebuyer.com/product/128047/
Great board for the price, not quite up with the two above but it all depends what you want, you could still get a good overclock with this board.
Memory:
Corsair 2GB Kit (2x1GB) DDR2 800MHz PC2 6400 XMS2 Memory Non ECC Unbuffered CL5(5 5 5 12) £34.99
http://www.ebuyer.com/product/98710
OCZ 2GB Kit (2x1GB) DDR2 800MHz PC2 6400 CL 4 4 4 15 PLATINUM XTC with LIFETIME WARRANTY £41.59
My personal choice
http://www.ebuyer.com/product/116755
Corsair 2GB Kit (2x1GB) DDR2 800MHz PC2 6400 XMS2 Memory Non ECC Unbuffered CL4(4 4 4 12) E.P.P. Heat Spreader Lifetime Warranty £52.84
Is this worth an extra £17 over the first Corsair link just for the tighter timings? Your choice.
http://www.ebuyer.com/product/111439
PSU:
Corsair VX450WUK 450W PSU £45
My choice.
http://www.ebuyer.com/product/131052
That PSU will handle any card with plenty left over for your drives and USB devices. Very efficient with great rails, quality over quantity is what I say, that is probably better than a 600W Coolermaster extreme in terms of efficiency, Coolermaster only quote 70% where Corsair boast 85% with a big load, thus resulting in more power overall.
If you ever plan on SLI with top end cards then I would look at the 620W maybe higher.