Yes, that PC will max it out quite nicely with high frames.
You should be able to have everything on Ultra with 4xMSAA and 16x Anisotropic Filtering with 60fps in most zones - but dont expect that in the middle of Stormwind, I still drop to 35-40fps with a 670.
If I were you though, Id set shadows to 'High' and particle density to 'Good' - the ultra version of these two are very demanding and could cause you to dip below 60fps in some areas. Even with my 670 I have them set on that.
If you find that your frames are too low for your liking, drop the following settings down (in order of most demanding):
- View distance
- Shadow quality
- Particle density (in crowded areas)
- Water quality
All in all, that PC should be fine for WoW and MoP