Short answer: Yes
But where's your processor? Assuming i7 920?
Depends on what all you're trying to do with this build, and buy the looks, I'd say you want a gaming rig with a good amount of power.
I'd personally swap out the Radeon 4860s for a Radeon 5750s or 5770s. Won't take a hit with performance (5770 would be an upgrade), and you'll get DX11 support + Eyefinity (not to mention a slew of audio options running through HDMI).
Otherwise, go for it. Looks like you'll be enjoying some good frame rates for a couple years.