Holy shit that graphics card. Are you also going to use it to cook eggs for breakfast?
I spent $400 on a Raedon R9 290 and it runs everything on max settings, and in a year or two when it starts feeling old I'll just buy a second one for cheaper and SLI them together. You should consider the same.
Like everyone above me said: You don't need an i7 unless you are doing more than just games, like virtualisation, rendering, etc.
Also, some may disagree but I would recommend buying Windows 8.1 Professional instead of Windows 7 SP1. There's very little reason to put Windows 7 on a new build, just like there is very little reason to upgrade an existing Windows 7 build to 8. Don't think just because Windows XP took forever to end support that 7 will last that long. 8.1 allows you to do away with all that start menu crap people always complain about - by allowing you to change your settings so log in to/return to your desktop instead of your start menu in cases where you would be sent there. With it set this way, you only EVER see that start menu when you go there on purpose. Everything else is the same as 7, if not better.
While I don't predict 7 will get support for too much longer, 8 probably will. This is because the next version of Windows will most likely be cloud/subscription based I'm guessing form the new CEO they hired. I don't think Windows will be a very viable platform for video games at that point, which is why Valve is pushing for Linux support now instead of later so they can be ahead of the curve. You might as well use 8.