This gaming desktop set-up good for a small budget?

Here's a much better build :

PCPartPicker part list: http://pcpartpicker.com/p/1A4ZC
Price breakdown by merchant: http://pcpartpicker.com/p/1A4ZC/by_merchant/
Benchmarks: http://pcpartpicker.com/p/1A4ZC/benchmarks/

CPU: AMD FX-6300 3.5GHz 6-Core Processor ($117.98 @ Outlet PC)
Motherboard: Asus M5A97 R2.0 ATX AM3+ Motherboard ($93.98 @ Outlet PC)
Memory: Patriot Viper 3 8GB (2 x 4GB) DDR3-1600 Memory ($54.99 @ Newegg)
Storage: Sandisk Ultra Plus 64GB 2.5" Solid State Disk ($64.99 @ Microcenter)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($59.98 @ Outlet PC)
Video Card: MSI Radeon HD 7950 3GB Video Card ($179.99 @ Newegg)
Case: Zalman Z5 Plus ATX Mid Tower Case ($39.99 @ Microcenter)
Power Supply: XFX 550W 80 PLUS Bronze Certified ATX12V / EPS12V Power Supply ($45.99 @ NCIX US)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($14.99 @ Newegg)
Total: $672.88
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-09-04 21:19 EDT-0400)