General thoughts:
Unless you really care about audio, drop the sound card. I'm assuming you don't care much about it since your build didn't have it. Also, the last thing you want to skimp on is the PSU. A bad one can take your whole computer with it. Make sure you get one that is 80 plus certified.
From your build, I would change the PSU. Not that Corsair is bad, but that particular PSU may not be up to snuff. I would swap out the hard drive for an F3 Spinpoint, since by your numbers, it is cheaper to do so.
From your friend's build, why are you buying two sticks of RAM, rather than a kit of two sticks? Also, why two F3's? I would drop the sound card, and the speakers. I would make sure that case is decent.
Did you look up any reviews? Both builds seem to have a different focus, and if I were you, I'd at least look over both carefully, and pull from each, maybe. If price is an important point, then some of the choices seem superfluous.
Finally, what's wrong with the build in the OP?
Edit: Wait, what is your budget? The two builds you posted are over 200 dollars apart...