The additional question I would like to add is whether or not my psu could handle both the overclock and the radeon 7970 (I do not plan on overclocking the gpu right away) which I plan to get when it comes out.
The cpu I'm now planning for a 4.5 Ghz OC. The Heat sink is a 212 evo.
My psu is a corsair ax650w.
I'm pretty certain that it should due to it's reputation and price, but I would like confirmation.
From the specs, the PSU should be just fine with the GPU, even if both are OC'd. However, real life differs, and you have to also take into account the actual components and their lifespan and performance. It also depends on the extent of the OC'ing.