Go with an AMD FX 6350 or 6300. It's the best price for preformance CPU, and performs on par of a Sub-200 Dollar i5 for the price of $120-150.
Apart from that nothing much. I'd suggest a 1 TB HDD for storage, but no SSDs. No point of them in your budget.
CoolerMaster has some nice cases, so dish around 50 for a Mid-Tower Case, and another 50-60 on a CoolerMaster/Corsiar or whatever your brand choice is for a decent PSU. 500W should be good.
Make sure your Motherboard has PCI Express 3.0 to get the best speed out of the GPU. And 2 x 4 GB 1600 MHZ RAM sticks, and you should have a great Gaming PC for that budget.
I'm planning on doing the same around Christmas, Except most probably stick with a 7850 or the next gen 87xx or 88xx card
None of those parts will bottleneck your machine up.