I'm not too familiar with i7/x58 prices, but this seems like a pretty good deal!
Would make for a nice little ESXi machine. Too bad this wasn't for sale last week before I picked up my i5-2400S setup. This would have been slightly cheaper, and I could have filled it with 24GB instead of 16GB. Drop in a PCI Intel gigabit, SAS controller, PCI-e Intel gigabit, and a cheap low-power video card (X300, etc.).