I need to address a couple of questions before I give my changed edition of your build.
1) What is the desired screen size? How is your lighting in your place for the computer usage?
2) How far do you plan on overclocking?
3) What is the maximum RAM amount you plan on doing?
Here is my Max budget gaming build
(2) Is my closer budget build
PCPartPicker part list:
http://pcpartpicker.com/p/3M4kX
Price breakdown by merchant: http://pcpartpicker.com/p/3M4kX/by_merchant/
Benchmarks: http://pcpartpicker.com/p/3M4kX/benchmarks/
CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($189.99 @ Micro Center)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.94 @ OutletPC)
Motherboard: Asus Z87-Pro ATX LGA1150 Motherboard ($167.99 @ NCIX US)
Memory: Kingston Fury Black Series 8GB (2 x 4GB) DDR3-1866 Memory ($70.03 @ Amazon)
Storage: Seagate 1TB 3.5" 7200RPM Hybrid Internal Hard Drive ($80.03 @ Amazon)
Video Card: MSI GeForce GTX 780 3GB TWIN FROZR Video Card ($477.99 @ SuperBiiz)
Case: NZXT Source 530 ATX Full Tower Case ($79.99 @ Newegg)
Power Supply: SeaSonic X Series 850W 80+ Gold Certified Fully-Modular ATX Power Supply ($144.50 @ Newegg)
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer ($19.98 @ OutletPC)
Operating System: Microsoft Windows 7 Professional SP1 (OEM) (64-bit) ($10.00)
Monitor: AOC i2367Fh 60Hz 23.0" Monitor ($148.17 @ Amazon)
Case Fan: Cougar Vortex PWM 70.5 CFM 120mm Fan ($13.97 @ OutletPC)
Case Fan: Cougar Vortex 64.5 CFM 140mm Fan ($10.99 @ Newegg)
Case Fan: Cougar Vortex 64.5 CFM 140mm Fan ($10.99 @ Newegg)
Other: Any Windows 7/8 for 10$
Total: $1454.56
(2)
PCPartPicker part list:
http://pcpartpicker.com/p/3M5CF
Price breakdown by merchant: http://pcpartpicker.com/p/3M5CF/by_merchant/
Benchmarks: http://pcpartpicker.com/p/3M5CF/benchmarks/
CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($189.99 @ Micro Center)
Motherboard: Asus Z87-Pro ATX LGA1150 Motherboard ($167.99 @ NCIX US)
Memory: Kingston Fury Black Series 8GB (2 x 4GB) DDR3-1866 Memory ($70.03 @ Amazon)
Storage: Kingston SSDNow V300 Series 120GB 2.5" Solid State Disk ($60.02 @ Amazon)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($54.43 @ OutletPC)
Video Card: MSI GeForce GTX 780 3GB TWIN FROZR Video Card ($477.99 @ SuperBiiz)
Case: NZXT Source 530 ATX Full Tower Case ($79.99 @ Newegg)
Power Supply: XFX ProSeries 750W 80+ Gold Certified Fully-Modular ATX Power Supply ($94.99 @ NCIX US)
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer ($19.98 @ OutletPC)
Operating System: Microsoft Windows 7 Professional SP1 (OEM) (64-bit) ($10.00)
Monitor: Acer S241HL bmid 60Hz 24.0" Monitor ($147.58)
Case Fan: Cougar Vortex PWM 70.5 CFM 120mm Fan ($13.97 @ OutletPC)
Case Fan: Cougar Vortex 64.5 CFM 140mm Fan ($10.99 @ Newegg)
Case Fan: Cougar Vortex 64.5 CFM 140mm Fan ($10.99 @ Newegg)
Other: Any Windows 7/8 for 10$
Total: $1408.94
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-05-18 00:07 EDT-0400)
CPU cooler: Do not go with water cooling if you do not planning to get a perfectly cool computer at high clock cycles. This is a nice cooler effective in reaching 4.5GHz. I recommended only gong to 4.2GHz if may be.
(2) No need for one if you plan to OC only a couple GHz above like say around 3.7GHz
RAM: Never hurts to get higher frequency and reliable for lower price
Storage:Seagate Hybrid Drive uses its NAND Flash memory quite well and boots/run frequently used data extremely fast with a 7,200 RPM HDD for the other data at a lower price. This is the future budget storage device. Close to SSD speed and faster than HDD speeds after a certain amount of usage WD Green is for eco-friendly and longevity and reliability, not speed.
(2) SSD for OS and frequent games for fastest speeds while HDD for other data
Case Its pretty much up to preference of which case to get, but I prefer the NZXT because its cheaper with better cable management and cooling option.
PSU: The PSU I chose is top of the class (since your budget is so high) and has great wattage and efficiency
(2) PSU is either similar or slightly lower class than the top tier (above) but priced $40 less
OS: Reddit software swap is reliable for the most part. I can tell you first hand that s5ean is a trust worthy source and you can read the comments on the forum page for proof. Save 80$ for the OS!
Monitor: The response time of 1ms vs 5ms is unnoticeable in gaming and in videos, anything under 16ms for 60hz is unnoticeable to the human eye while 8ms for the 120hz edition. Screen size can change, but 23" vs 24" is almost negligible in my opinion. If you have room for it, I recommend going for 27" IPS 1080p monitor. Everything will be as good as it was on 24", but you will have more screen space. Unless you sit closer than 8" (WAY to close for safety when staring at a monitor. advised to sit 16"+) away, you won't notice the pixel difference.
Others This is up for preferences honestly. I just chose great case fans for fabulous cooling throughout the system with room for 4 more fans if needed!