For the motherboard, both work fine. Just make sure the chipset is either the nForce3 Ultra or the VIA K8T800Pro. Pick a good brand name (Asus, MSI, Abit, Soltek, etc) and go for it.
Good ram would be Corsair, Crucial, OCZ, or Mushkin. Other brands such as Buffalo and Kingston will work, but to be safe I'd stick with the good four. Corsair makes a nice cheap ram called Corsair Value Select DDR400 512mb stick for like 75 bucks.
I would get a 256mb video card, but I don't know if you can get one with the rest of the stuff you mentioned and still stay below 1250. The cheapest ones are about 360 - 400 bucks, so make sure you budget right.
Let's add things up a bit...
CPU and motherboard - 380
RAM - 150
Hard drives - 300
Video card budget is tight. If you can afford to bump to budget up to maybe 1300 - 1350, you can get a 256bit video card (6800GT or X800Pro). If not, the 6800nu which is probably the best 128bit works.
About the hard drives - what will you be using the computer for? And what will you use the 74gb Raptor for? Raptors are a bit on the expensive side right now, and if you're just going to use a Raptor for boot, then the lowest (34gb) will do, saving you like 70 bucks. In fact, if you're just going to use the computer for, say, gaming, a Raptor drive isn't really necessary, and you can save yourself almost 200 dollars by just sticking with the SATA. Your choice.