I feel for you running a P83!
It sounds like you are asking people to judge vaporware. If you are looking to asking what is good today that you can by then, I would have to agree with pm. ("So I could tell you what I would buy right now, but I couldn't plot an upgrade path for you for next year unless you are planning on buying last year's stuff next year."😉
Here is my best guess. Intel and AMD should have 2 very competitive CPUs that if we are lucky will have good motherboard/chipset support. If we are very lucky, they will be so close in performance that if we choose ether one we would have a great CPU. nVidia NV20, 3Dfx Rampage, and ATI Radeon will all be video solution to keep a look at as the months pass. Remember ATI has it's "MAXX technology" witch was a software solution that let ATI put 2 chips on one video card. ATI may release a Radeon MAXX version of their current card, Radeon DDR 64MB. You should be buying a product about the time of the spring product release based on what you said about graduating. SB Live! is going head to head with the Aureal Vortex2 right now. Last rumor said that Aureal had been bought out and product support should continue. 100/10MB TX networking is very cheep now. 20 bucks for a Linksys or D-link 100/10 base TX NIC (network card). Auto sensing switches are around $130 mark give or take a few dollars. 133Mhz memory is the thing now by late to early winter DDR main memory should be thing to have if prices are right (exp. Rambus is too expensive for memory). 128MB is a good amount of memory to have now. Don't quote Bill Gates about, "640KB should be enough for anyone." Now is now and not late. I am positive that as OSes evolve that they and there applications will make 128MB main memory look like what 128 bytes of main memory looks today. 19" monitors are on most peoples must have list to day, and some people would like bigger ones. Big and bad UATA100 drives are beginning to replace UATA66 drives. IBM already has them readily available. 56K is still what most people must endure as internet connection. Cable and DSL are available in some areas but not all. (That bits!) Dell is still a great PC if you don't go for a custom built gaming PC. Building has great advantages to. Windows ME and Windows 2000 like all Microsoft OSES are of to a bad start (poor performance and nonexistent driver support in some cases). Remember that most of this is vaporware! I am BSing just to state my best guess.