You don't need the second GPU for a second monitor. The 5xxx series supports up to 3 monitors on one card.
Other than that, you've got a lot of problems. If I had $1400, here's what I would build:
CPU: i5-750 $200
Mobo: Asus P7P55D-E Pro
RAM: CORSAIR XMS3 2x2 GB DDR3 1600 CAS Latency 7
HDD: Samsung Spinpoint F3 1 TB $90
Optical: Cheapest SATA DVD burner $24
Case: HAF 922 $90
PSU: SeaSonic S12D 850 Silver 850W
GPU: HD 5870 $400
Total: $1,214. Leaves a good $200 for the monitor.