Thanks for the support everyone!
But there is still hope! ASIC miners cannot mine LiteCoins (For Now) and this set up will work for LiteCoins with similar results.
I actually had no idea what litecoins even were until you wrote this, just spent about 2 hours researching them. seems to be the better way to go for a beginner just getting into it this late in the game.
You can get a 5.0 Gh/s ASIC from butterfly labs for $274.
already ordered one right when the bitcoin to USD rate was going insane, just wondering if its going to come within the year, let alone the quarter. Not too excited about that.
One more question, are mining PCs becoming obsolete? would it be a better investment to just buy some crap netbook or barebones pc and get as many jalapenos as i can fit in my budget before the difficulty gets too insane?