Yes you definitely have more than enough power to run that system, however I would recommend getting a different GPU such as the 5850 or if that's out of budget a 4870/90. Also, go with the Spinpoint 500gb HDD. And you could easily go with 4gb of RAM if it's just for gaming. Finally, any particular reason why you're getting such an expensive motherboard - that's more than many x58 ones?
I was a bit partial to nVidia because I'm not a major fan of ATI GPU's but I hav seen a lot of reviews saying that ATI cards are better than their nVidia rivals.
The motherboard was also mostly out of bias because I've seen Asus products in action and I was quite impressed. I thought that getting the best quality Asus product would ensure I wouldn't need to upgrade the rig for a while or is that not really a problem?
Can you recommend a cheap xFire combo because I really wanted a dual GPU graphics system.
5850 is a far better deal than dual 9800gt. It offers more performance at a much less power consumption, and it supports DX11.
I would recommend you to get ati 5850. But if budget is a constraint, you can save some money buy getting Asus Evo and Corsair HX650 PSU, and spend that for 5850.
performance wise ati tends to be bout 10-15% behind nvidia in previous generations but at a much better price then nvidia cards,but cuz ati got the jump on nvidia with dx11 cards, ati is currently leading the market till nvidia catch up with their dx 11 offerings later this yr or early next, wich the keeping quiet bout, so no one knows how it compares to the ati dx11 cards