Nay. No reason to pay that kind of money for old hardware. Get an i5-4670K and a Z87 motherboard. Also you don't need 16GB of RAM (assuming the system is for gaming purposes). And then with the money you save upgrade your GPU to a GTX 780TI. Also throw in an SSD and a Noctua NH-U9B in the mix and then I would say it's good to go.
Awesome, thanks for the advice. This would be a fairly high-end gaming rig, correct?