Here's my suggestion:
PCPartPicker part list:
http://pcpartpicker.com/p/2NRoz
Price breakdown by merchant: http://pcpartpicker.com/p/2NRoz/by_merchant/
Benchmarks: http://pcpartpicker.com/p/2NRoz/benchmarks/
CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($229.97 @ SuperBiiz)
CPU Cooler: Noctua NH-D14 65.0 CFM CPU Cooler ($59.99 @ NCIX US)
Motherboard: Asus Z87-A ATX LGA1150 Motherboard ($137.99 @ NCIX US)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1600 Memory ($80.99 @ Amazon)
Storage: Samsung 840 EVO 120GB 2.5" Solid State Disk ($89.99 @ Adorama)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($64.99 @ Newegg)
Video Card: EVGA GeForce GTX 780 3GB Video Card ($499.99 @ Newegg)
Case: Corsair 300R ATX Mid Tower Case ($59.99 @ Microcenter)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply ($49.99 @ NCIX US)
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer ($19.98 @ OutletPC)
Operating System: Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit) ($91.48 @ OutletPC)
Total: $1368.35
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-02-05 15:42 EST-0500)
If you wanted to saturate the full $1500 budget you could step the CPU up to an i7 4770k and get a Corsair H100i liquid cooler.