Is this a good $700 gaming PC build?

Solution
plenty of horsepower. though if your going to go with an h97 board and not overclock the cpu then you would be better off dropping to a locked i5 instead. that would free up more money and you could get an r9-290 which is considerably faster than the r9-280x.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4590 3.3GHz Quad-Core Processor ($187.99 @ SuperBiiz)
Motherboard: ASRock H97M Anniversary Micro ATX LGA1150 Motherboard ($68.98 @ OutletPC)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($58.98 @ OutletPC)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($52.49 @ OutletPC)
Video...
No need for a i5-k in a stock clocked gaming build. This is a good option:

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4460 3.2GHz Quad-Core Processor ($178.89 @ SuperBiiz)
Motherboard: ASRock H97M Anniversary Micro ATX LGA1150 Motherboard ($68.98 @ OutletPC)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($58.98 @ OutletPC)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($52.49 @ OutletPC)
Video Card: XFX Radeon R9 280X 3GB Double Dissipation Video Card ($209.99 @ Amazon)
Case: Cougar Spike MicroATX Mini Tower Case ($29.99 @ Mwave)
Power Supply: XFX 650W 80+ Bronze Certified ATX Power Supply ($69.99 @ Amazon)
Other: Windows 10 Preview
Other: SATA Cable ($1.99)
Total: $671.30
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-04-19 00:17 EDT-0400
 
plenty of horsepower. though if your going to go with an h97 board and not overclock the cpu then you would be better off dropping to a locked i5 instead. that would free up more money and you could get an r9-290 which is considerably faster than the r9-280x.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4590 3.3GHz Quad-Core Processor ($187.99 @ SuperBiiz)
Motherboard: ASRock H97M Anniversary Micro ATX LGA1150 Motherboard ($68.98 @ OutletPC)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($58.98 @ OutletPC)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($52.49 @ OutletPC)
Video Card: MSI Radeon R9 290 4GB TWIN FROZR Video Card ($249.99 @ Newegg)
Case: Cougar Spike MicroATX Mini Tower Case ($29.99 @ Mwave)
Power Supply: XFX TS 550W 80+ Bronze Certified ATX Power Supply ($48.98 @ Newegg)
Other: Windows 10 Preview
Other: SATA Cable ($1.99)
Total: $699.39
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-04-19 00:19 EDT-0400
 
Solution

Phil923

Distinguished
Aug 24, 2014
669
0
19,360
nearly identical to nikoli's build, but I prefer the PCS+ cooler and I threw in a better motherboard.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4440 3.1GHz Quad-Core Processor ($173.95 @ SuperBiiz)
Motherboard: ASRock H97M PRO4 Micro ATX LGA1150 Motherboard ($79.89 @ OutletPC)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1600 Memory ($56.99 @ Newegg)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($52.49 @ OutletPC)
Video Card: PowerColor Radeon R9 290 4GB PCS+ Video Card ($253.98 @ Newegg)
Case: Cougar Spike MicroATX Mini Tower Case ($29.99 @ Mwave)
Power Supply: XFX TS 550W 80+ Bronze Certified ATX Power Supply ($48.98 @ Newegg)
Other: Windows 10 Preview
Other: SATA Cable ($1.99)
Total: $698.26
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-04-19 00:23 EDT-0400
 

exainsane

Reputable
Feb 7, 2015
24
0
4,520
overclocking is a simple squeeze of CPU performance by doing some difficult steps, and if you're not familiar with it, its advisable to not to do it
btw yeah, you should follow phi's, nikoli's or other's build, it'll be more suitable for your purpose :)
 

exainsane

Reputable
Feb 7, 2015
24
0
4,520
all of their builds seems to give you lagless 1080p gaming,
you'll get around 60-80 FPS in high or 50-60 fps in ultra (crysis 3 and metro is the exception)
well choose one that suits your budget and your needs