Great, thanks Nitro192, and I agree, I would be using a bit more $$$ for the build however I am trying to stay as close to a $500 budget as possible.
It's been some years since the last time I built my own system, would up-dating the bios be possible now and not effect the performance of my current i7-3750k?
I'm getting the new mobo Friday, but should have everything else today, would love having that ready to go sooner rather than later.
Here are the components the "new" system will have in total including my current mobo:
Gigabyte GA-B75M-D3H LGA 1155 mobo- (the one I am currently using now in my system)
i5-3350P CPU-
Seagate 7,200 RPM 500GB HD w/16 MB Cache
16GB Generic DDR3 (been working fine for 8-9 months in this system) 1060Mhz RAM
WIN 8.1 Full Version (been told this newest OS will recognize more cores of the CPU and possibly allow it to run faster?)
I also have a unopened syringe of thermal paste that is about a year old but looks ok, should I buy some new to be safe?