The value proposition is about the desirability of all of the parts. Not just the CPU.
- do you really like that case? or even care what the case is?
- do you think 550W is enough PSU? It's nice that the PSU is rated gold.
- is a Windows licence included?
- has the processor been overclocked?
- does the feature set of that motherboard meet your needs?
- what are you going to do with the machine?
I converted 490 euros to $721 CDN and reduced that number to $638 to account for the HST I would pay on new components. I don't think it's a bad deal, especially if you get an operating system with it. By the same token, I don't think it's a stellar deal, so I wouldn't feel bad letting it go either.