If you're planning to keep this PC for 5+ years, this is an okay set up. RAID 5 would be better IMO for data recovery and read/write performance, but I assume your motherboard does not support it and does support RAID 1. My only other suggestion is to get a good UPS to protect against surges. You'll need one that protects your network cable to get full coverage if you are not wireless. Remember to save important stuff to CD or DVD on a regular basis anyway. Some of my friends use a removable USB hard drive for storage. Can't be too careful with sensitive data.

If you plan to upgrade every 2-4 years like I do, this is not how I would do it, but ot each their own...
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When at first you don't succeed, blame your parents and accept defeat...