Okay, first the sound card. As I see it, there are two possibilities for brand: Creative (Audigy 2 ZS or Audigy 4), or M-Audio Revolution 7.1 or 5.1. I think either one would work well. There are ups and downs of both. They have about equal sound quality, but the Creative can do more processing. That said, M-Audio doesn't make you load up your system with useless garbage like Creative does. It's basically a straight up sound driver. On both cards, I'd say use the digital out to your reciever for sound. That way there are no adapters, no dongles, and only one cable (besides video) going from PC to preamp.
For video, well, it depends on what you want to do. If you reciever does DVI switching, then this is fine and dandy, but unfortunately you don't have that option. All modern video cards support dual monitors and have 1 analog 15-pin RGB output and a DVI output. This would simply be a plug n play operation. If you have a TV or projector with DVI in, then you could simply change sources when you want the PC to be displayed.
For you though, I would assume that you're going to end up with an adapter that changes your Analog RGB output to Component video. This should yield sufficient quality while allowing you to use yourpreamp as a switcher.
Brand recommendation on video card? That depends on what you already have. To get this info on your Dell, right click on the Windows desktop, choose Properties, Settings tab, click the Advanced button, then click the Adapter tab. This should display the make and model of your video card. If you have a cruddy integrated video card, or a lower end one, then an upgrade is likely needed. I would recommend an ATI card for the fact they produce less heat than their NVidia counterparts with comparable performance (and thusly use less power). I'd recommend what Nick_Danger is using or something of a similar price point.
From what Nick said, it looks like you might need a processor upgrade (on your computer). This is an easy operation, but judging from your current processor, I doubt your computer is compatible with the newest Intel processors that fit in that type of motherboard.
To Nick, I love your setup. I'm personally an AMD fan (let the flame war begin
), but that seems like an awesome setup. The Raptor RAID array must absolutely smoke (though last time I checked they were 36 Gig drives, not 40).
The thing about your computer though, is the fact that you built it. Unless Doug wants to build a new computer, he's stuck with a Dell, which means proprietary Hell. Unless he's a hardcore modder that wants to make a Dell motherboard and stuff fit in an ATX case, well, you know where he's stuck. Out of curiosity, where do you shop for your parts?
Grey Ghost, if you really want to take the time and money, then I'd say build your own machine. Use an Ahanix DVine case. Those things are beautiful brushed aluminum with a Vacuum Fluorescent Display. They look like a hi-fi component. This is a long and rambling post, but feel free to post more questions (or PM me).