That is correct, though the OP is posing the question "Good but cheap PC build" that confines us to the lower end range chips.
The former status quo was the P2 X4 955BE or X6 1090T but the P2's are discontinued so the new status quo would be a i3 + H61 alternatively a i5 2400 + H61 with the money saved put towards a better GPU/PSU combination. MSI have a R1300 Z68 mobo for those wanting Intel SRT technology and better RAM speeds alterntively a solid MSI H61 platform goes for around R 600 making the option very apealing to budget builders.
i3 2100 R1200 or i5 2400 R 1900
MSI H61 P43 R800
Antec Earthwatts 430D R550 or Silverstone ST50 R 650
Inno3D GTX 560ti (ref clock) R2000
GSkill Sniper/Ripjaws DDR3 1333 2x4GB R450
CASE + Peripherals user determined.
