Compatability Check for First PC Build

ps3hacker12

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Everything looks good, just as a side note, if your budget is so high, you should really be going for a third or fourth gen i5.
also if its a gaming rig even 8GB ram is overkill.

Here is a better 4th gen i5 and 7970 based rig for less:
PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($219.99 @ Newegg)
CPU Cooler: Noctua NH-D14 65.0 CFM CPU Cooler ($73.99 @ Amazon)
Motherboard: Gigabyte GA-Z87X-D3H ATX LGA1150 Motherboard ($134.98 @ Outlet PC)
Memory: Corsair Vengeance LP 8GB (2 x 4GB) DDR3-1866 Memory ($49.99 @ Newegg)
Storage: Seagate Barracuda 3TB 3.5" 7200RPM Internal Hard Drive ($119.99 @ NCIX US)
Video Card: PowerColor Radeon HD 7970 3GB Video Card ($299.99 @ NCIX US)
Case: Thermaltake VN300M1W2N ATX Full Tower Case ($124.99 @ Microcenter)
Case Fan: Silverstone AP121 35.4 CFM 120mm Fan ($14.99 @ Amazon)
Case Fan: Silverstone AP121 35.4 CFM 120mm Fan ($14.99 @ Amazon)
Power Supply: Corsair Enthusiast 650W 80 PLUS Certified ATX12V / EPS12V Power Supply ($74.78 @ Newegg)
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer ($14.98 @ Outlet PC)
Operating System: Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit) ($89.98 @ Outlet PC)
Total: $1233.64
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-08-27 15:12 EDT-0400)
 
Everything looks good and the FX-8350 will make a great gaming rig. There is nothing wrong at all going for a FX CPU even at the budget you have. And given that both the XBox ONE and PS4 are going for AMD CPU's should be even better for console ports down the road.

The only thing I would suggest would be to cut your ram down to 2x4gig on the ram you will not need 16gig for a gaming rig. I only went with 16gig because at the time Newegg had the G. Skill 16gig kit on sale for $5 more than the 8gig kit.

Again with a good GPU the FX CPU can keep up with a intel i5 in every game there is with no problems at all. I have a FX-8120 and FX-8350 build and both of them have no problems keeping up with my i5 3570K in every game I have.
 

ps3hacker12

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the FX8350 is quite a bit worse for gaming:
http://www.xbitlabs.com/articles/cpu/display/amd-fx-8350_6.html#sect0