Computer help forum: Fumes/Vapor (new rig)

Hello, I built a new comp a little over a month ago and I have been noticing this terrible fume that I cannot pinpoint, it gets so bad that it irritates my eyes and throat. I am worried about what I am being exposed to even more than losing my rig, as it should be. However I would like to save both.

The smell is sort of in between chemical and electric. I have heard it is possible this is new parts being burned in, however its been a while now and I play games on here that put it under serious stress ie age of conan, so that shouldnt be the case.

My specs are :
OS = xp pro
Antec p182 case
Antec 500w Basiq psu model:BP500U
Patriot Viper 4GB (2 x 2GB) 240-Pin DDR2 SDRAM DDR2 800 (PC2 6400)
SAMSUNG 2253BW Black 22" 2ms(GTG) DVI Widescreen LCD Monitor

Intel Core 2 Duo E8400 Wolfdale 3.0GHz LGA 775 65W Dual-Core Processor Model BX80570E8400

GIGABYTE GA-P35-DS3L LGA 775 Intel P35 ATX All Solid Capacitor Intel Motherboard
GIGABYTE GV-NX88T512HPV1 GeForce 8800 GT 512MB 256-bit GDDR3 PCI Express 2.0 x16
Seagate SV35.2 ST3500630SV 500GB 7200 RPM SATA 3.0Gb/s Hard Drive
ZALMAN CNPS9700 LED 110mm 2 Ball CPU Cooler

I have tried to pinpoint where the smell is coming from and I cannot. I have done the snifftest and felt around for anything hot. I have checked for labels or stickers or anything that would "cook" under heat etc and found nothing.
I went back and checked the thermal paste in case that is what is smelling, it is not. I have also had the side panel off with a fan blowing into it to no avail as well.

Temps look ok, even though video card gets up to around 65 cel when under intense gaming such as Age of Conan. However it idles around 44-47. One of the cores gets to around 43 max and the other 54, however they idle at 40/44 while the processor itself is usually around 20 idle and 31 full blast.