Good gaming desktop build under $700?

Here's my recommendation :

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

CPU: AMD FX-8320 3.5GHz 8-Core Processor ($144.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ 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: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($59.98 @ Outlet PC)
Video Card: Gigabyte Radeon HD 7950 3GB Video Card ($203.98 @ Newegg)
Case: Corsair 300R ATX Mid Tower Case ($49.99 @ Newegg)
Power Supply: XFX 550W 80 PLUS Bronze Certified ATX12V / EPS12V Power Supply ($44.99 @ NCIX US)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($14.99 @ Newegg)
Total: $697.87
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-09-06 19:20 EDT-0400)