New Builder Advice: ASUS P8Z77-V LK an okay motherboard?

1. It's decent. If you really want to overclock to the limit, you might invest in a more expensive motherboard with more power phases.

2. Performance-wise, the difference is minimal. Windows 8 does boot faster though, but that's all.

3. Hmm, maybe the old "install motherboard without the standoffs" mistake. Or being careless about static electricity. It's also common for first-timers to be scared by the amount of force required when opening the CPU socket or inserting power connectors.

As for the build, I'd recommend cheaper RAM - 2400 MHz may sound cool, but you'd really sacrifice very little performance using 1600 MHz instead, and practically nothing with 1866. And as you say, 16 GB is kinda overkill. 8 GB is currently more than plenty, but I suppose you could say that the new console generation and such may lead to more growth in the memory needed for gaming than in the last several years. You might also consider a larger SSD, 60 GB fills up real fast.

Just thought I'd add some input to your build. I've got that exact motherboard and I'm pretty happy with it. While the P9Z77-V DELUXE version or their Maximum V Gene would provide the optimal power delivery and stability for overclocking, their "lower" boards will still do overclocking just fine. Check out this Newegg video where an Asus rep goes over their board line if you want to know what you get with pricier models: https://www.youtube.com/watch?v=yZsEGXgrSJA&list=PL666DE0A3B6BB5628 Lucky for you Newegg has a bunch of videos on the P8Z77 series by Asus and they go through all the features super indepth.

However, if you're concerned about needing to overclock to play games maxed out, I doubt you'll have to any time soon with an i7. I have an i5-3570K that I had intended to overclock, but haven't yet because none of the games I'm playing are taxing it hard enough to be worth it (granted I don't have a super high end video card though). So more than likely with that i7 you should be good without haveing to OC, and when you do what you get out of those boards should be good. (Plus they have a nifty 1-click overclocking in the BIOS which takes a lot of the hassle out of overclocking).

I have 8GB of Corsair Vengeance @1600MHz and I never use more than 50% gaming. Obviously, if you want to spend the money for faster RAM go for it, but I belive I saw an article here on Tom's that stated that going form 1600-2400 gained them a 3% increase in FPS. Pretty minor IMO especially knowing faster RAM is harder on the CPU.

I can't really comment about Asrock first hand, but I don know their boards seem to be popular. If you are set on those two stick of RAM you mentioned I'd go with the Ares as the voltage is lower at 1.5v which is better to me. Try Googling "RAM Timings" for more info. I have negative views about Windows 8 (seeing as it looks like a tablet OS adapted for desktops). Maybe check out reviews? I love Windows 7 personally. As someone who built his first rig in September, the I/O shield for the mobo was very annoying. FYI, you may have to bend tabs, or if you have to cut some, to fit the board in. It's normal, but sadly they don't mention it anywhere in the instructions. I had to get plyers and really adjust those things to get it to seat. Also, take your time on the build, relax and have fun. Here's a how to assemble video: https://www.youtube.com/watch?v=d_56kyib-Ls

My build for reference:
PSU: Corsair 620HX
HDDs: 2x7200 RPM Seagate
Mobo: ASUS P8Z77-V LK Mobo
RAM: 2x4GB Corsair Vengeance @1600
GPU: ASUS ENGTX550 TI DC/DI/1GD5
CPU: Intel i5-3570K
Optical: ASUS DRW-24B1ST (DVD-RW Drive)
Sound Card: ASUS Xonar DG
CPU Cooler: Cooler Master Hyper 212 Evo with 1x120mm Fan

I somehow missed your post.

1. I would go with the G.Skill RAM. They run at 1.5V which isn't as hard on the CPU as the 1.65V the other stuff runs at, and 1866 is still relatively fast. There are diminishing returns with faster RAM anyway.

2. Pretty much, the Extreme4 has similar features but has more power phases.

I have a similar set up:
Motherboard: Asus P8Z77-V LK
CPU: Intel i7-3770K @ 3.50GHz
Memory: Crucial Ballistix Tactical 16GB DDR3-1600

Be aware that with the P8Z77-V LK, if you have more than one hard drive you will not be able to select the booting sequence. This will force you to enter the Bios set up every time you boot to a disk different from the one the Bios arbitrarily selects. A serious deficiency in this motherboard.

I believe this issue should be clearly disclosed in the product specifications and in the reviews.