The CPU is overkill compared to the GPU, and 16GB of RAM is not necessary.
I'd switch to an i5-4690 and 8GB of RAM, and put the returns back into a better monitor and speakers. Also, you can't overclock on that motherboard just so you're aware. I don't actually like overclocking, but fair warning...
I have that monitor right now, and it's okay, but really not great. Not the kind of monitor I'd want to keep using long term for gaming. And audio quality matters a lot as well, spending $30 on the speakers doesn't seem like a good idea...
There's no sense in getting an expensive GPU and CPU for great graphics if your monitor and speakers ruin the quality before it gets to your eyes and ears.