Nope. It's barely running at the cheapest specs it can be done with, plus there are a few components in there you should actually spend a bit more on - the PSU for instance.
If push comes to shove, you could save a few bucks(probably) by getting a single 8GB stick instead of 2x4, but that'll perform worse.
No. As far as I can tell, there's nothing you can do to make this cheaper.