SATA II hard drives are better and cheaper nowadays. Make sure it's 7,200rpm or faster, as the 5,400rpm HDDs are pretty sluggish when 500gb and over in size.
With a good inkjet printer, some full face printable discs and Accoustica CD/DVD Label Maker, you would be a lot better off than with Lightscribe and the expensive discs that it needs.
External speakers and a decent monitor would also be on the cards.