First pc build (Mini ITX, would like criticism)

I think you are probably trying to do too much with too little. There's a lot going on, and if you are pushing your budget then you can't really do everything.

Processor is pretty weak. It's got better integrated graphics than Intel's options, but if you plan on adding a graphics card then this feature becomes mainly irrelevant and you are just left with a fairly weak processor. I'd usually suggest a 750K/760K, but these have no integrated graphics meaning that you can't do anything with the machine until you add a graphics card, so it's probably not a good pick for you. The dual core Pentiums though, are very well priced, have solid integrated graphics (pretty useless for gaming though). Something like a G3220 would be a pretty good pick, and there's always the allure of the G3258 (the unique overclockable Pentium, which might sneak into your price range).

You shouldn't need thermal paste on most new builds.

Motherboard does limit you a little if you go down the AMD route as it's not compatible with the most recent AMD APUs.

Memory is quite slow if you are going to be using integrated graphics for any period of time, and 4Gb might be limiting in the long run as with a dual channel kit you have no room left for expansion on ITX.

At your budget level, I'd bin the SSD altogether. I have a 60Gb SSD myself, and after a year or two your Windows file has bloated significantly which makes it an awkward size for the long term. It's poor capacity for the money spent too.

You don't need a 2.5" HDD, I'd stick with 3.5". If you've binned the SSD, it should be easy to pick up a 1TB Barracuda or Caviar Blue, which is all you really need in a basic machine and should give you loads of space.

Big Bitfenix Prodigy fan but it's a bit out of sync with your build. Beware of the windowed versions, they remove the venting around the graphics card - not good in general and particularly bad if you live somewhere hot. It's probably too expensive for your build when you can pick up an Elite 120/130 for a third of the price and give yourself some extra funds.

If you are planning on getting a graphics card, get a bigger PSU than a 300W as this might limit your expansion, and this one has no PCIe (graphics card) power connectors. Something like the 550W XFX covers you for basically any graphics card, but if you only ever plan on getting something fairly basic, a 450W is more than enough.

You shouldn't need a Wifi adaptor. The motherboard you selected (as well as a significant amount of ITX boards) come with integrated Wifi.

http://pcpartpicker.com/p/BCgGbv

This will rape LoL, 1080p Ultra. You won't need any GPU in the future, the iGPU will handle most of the games but not all.
Your upgrade options are: SSD, get 840 EVO 240Gb since you will not buy any GPU in the future. A CPU cooler as well, maybe a CM Hyper 212 EVO.

Here`s a modified build based on yours.
I removed the SSD, because you can add one later, and I recommend getting atleast 120Gb.
The RAM is only one stick, but better speed, and you`ll not fill the RAM slots with 2GB sticks when you upgrade.
The case is a smaller MicroATX one.

PCPartPicker part list: http://pcpartpicker.com/p/PrwddC
Price breakdown by merchant: http://pcpartpicker.com/p/PrwddC/by_merchant/

CPU: Intel Pentium G3258 3.2GHz Dual-Core Processor ($69.99 @ Amazon)
Motherboard: ASRock Z97M Pro4 Micro ATX LGA1150 Motherboard ($99.99 @ Newegg)
Memory: Crucial Ballistix 4GB (1 x 4GB) DDR3-1600 Memory ($44.99 @ Newegg)
Storage: Seagate Momentus 7200.4 500GB 2.5" 7200RPM Internal Hard Drive ($39.95 @ Mwave)
Case: Silverstone SG10B MicroATX Mini Tower Case ($108.68 @ NCIX US)
Power Supply: SeaSonic 660W 80+ Platinum Certified Fully-Modular ATX Power Supply ($79.99 @ Newegg)
Wireless Network Adapter: Buffalo Technology WI-U2-433DM 802.11a/b/g/n/ac USB 2.0 Wi-Fi Adapter ($25.96 @ Amazon)
Total: $469.55
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-07-30 06:59 EDT-0400