New i7 Build Specs, Advice Please

First, thanks so much for taking the time to look this over. I've been playing around with hardware layouts all weekend for a new <$1200 PC primarily to be used for high-end gaming (i.e. Crysis, Fallout 3, FSX, etc), and I think I'm coming to some idea what I'm looking for. Could anyone tell me what they think of this buildout for gaming on a 1650x1080 22'' monitor I already have, where I can get more bang for the buck, and/or if there are compatibility issues I'm overlooking?

Motherboard: ASUS P7P55D LGA 1156 Intel P55 ATX Intel Motherboard - Retail
Model # 7P55D
Item #:N82E16813131404 $150

CPU: Intel Core i7-860 Lynnfield 2.8GHz LGA 1156 95W Quad-Core Processor Model BX80605I7860 - Retail
Model #:BX80605I7860
Item #:N82E16819115214 $280

RAM: G.SKILL Ripjaws Series 4GB (2 x 2GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model F3-12800CL7D-4GBRH $127

GPU: XFX HD-585A-ZNBC Radeon HD 5850 (Cypress Pro) 1GB Black Edition 256-bit GDDR5 PCI Express 2.0 x16 HDCP Ready CrossFire Supported ... - Retail
Model #:HD-585A-ZNBC
Item #:N82E16814150454 $330

Optical: Sony Optiarc 24X DVD/CD Rewritable Drive Black SATA Model AD-7240S-0B - OEM
Model #:AD-7240S-0B
Item #:N82E1682711803 $27

HDD: Western Digital Caviar Blue WD5000AAKS 500GB 7200 RPM SATA 3.0Gb/s 3.5" Internal Hard Drive -Bare Drive
Model #:WD5000AAKS
Item #:N82E16822136073 $56

PSU: CORSAIR CMPSU-750TX 750W ATX12V / EPS12V SLI Ready CrossFire Ready 80 PLUS Certified Active PFC Compatible with Core i7 Power ... - Retail
Model #:CMPSU-750TX
Item #:N82E16817139006 $110

CPU Cooler: COOLER MASTER Hyper 212 Plus Intel Core i5 & Intel Core i7 compatible RR-B10-212P-G1 120mm "heatpipe direct contact" Long ... - Retail
Model #:RR-B10-212P-G1
Item #:N82E16835103065 $29

Case: COOLER MASTER RC-690-KKN1-GP Black SECC/ ABS ATX Mid Tower Computer Case - Retail
Model #:RC-690-KKN1-GP
Item #:N82E16811119137 $85

Subtotal: $1,188.75

The thing you're probably trying to figure out is why I chose the i7 860 over the i5 750 given that the 860 is ~$80 more expensive and they're both using the old LGA 1156 chipset. I think this is a better choice for me as I will not be OC'ing as I don't feel comfortable with really pushing the CPU and wrecking the CPU/MOBO 6 months from now. My logic is this: the Core ix-xxx CPUs will automatically OC when there's headroom and you're using fewer than 4 cores - up to 3.46 GHz when a single core is used whereas the i5-750 will auto-OC only to 3.20 GHz with a single core is used. It is also my understanding that this "turbo boost" will throttle the automatic OC depending on the demand and the temperature of the CPU, so, with adequate cooling you can automatically attain these OCs without any tinkering. In this way, it seems I'll be getting a nice amount more out of the CPU with an i7-860 vs. the i5-750. Or maybe I'm wrong...I know that if you're gonna OC manually, this doesn't mean a thing. What do you all think? Thanks again for your opinions on this...I put a PC together back in 2005, but I don't consider myself an especially tech savvy person.


-Mark