Final Build. Will It Work?

MCID47

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Yes, it is fully compatible. 970 can be less powerful than RX480 in DX12 games. Otherwise, 970 consume less power on idle and full load, and RX 480 has minor problem with power consumption but it will be fixed soon.

RX 480 can runs with 600W or more, but don't pick 550W or less because this card is a bit power hunger, but still lower than 280x and higher which requires huge power.
 


The RX 480 uses LESS power thaan a gtx 970 and would be totally fine on a 500 watt psu
http://www.techspot.com/review/1198-amd-radeon-rx-480/page7.html
 

MCID47

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No, RX 480 is not good enough compared to 980 in some games and benchmarks. 980 still got better computing and performance and also Higher price come with it. RX 480 is basically a High-End cards with minimum budget as AMD says its going on market with ~$200 so don't expect too much for this card. Nvidia still got the problem with DX12 on older architecture gpu but AMD has a leap ahead of nvidia for now. the 480 would be as fast as GTX 970 and R9 390, but still slower than GTX 980. Another thing is AMD rumoured that they have another RX 490 as another high-end gpu comes this year or next year.
 
A stock RX 480 is a little bit faster than a stock GTX 970.
In a week or so there will be cards with better coolers than the reference model .
You can expect GTX 980 performance from some overclocked models.

There are a ton of benchmarks available.
Looking like the reference cards are sold out for now