I can make some adjustments that will slightly impact performance but will likely still be leaps and bounds over your current rig and will be upgradable in the future if your up to doing that. I'm dropping the SSD card as your boot drive, dropping 1 ddr3 4g kit (you will want to add this later, if you can do it now that is better), adjusting your price for the OS, adding a decent keyboard and mouse combo, 22" monitor and speakers that get great reviews. You can search for speakers that you think will suit your taste for sound. If its not that important then spend less than I suggested, thats up to you.
I will readjust a little:
CPU: 199 free shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16819103851&cm_re=x6_1055-_-19-103-851-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
Mobo: 219 free shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16813131644&Tpk=asus%20crosshair%20iv&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
Ram: 149.99 free shipping ( doing 1 kit, add 2nd kit later for future upgrade)
http://www.newegg.com/Product/Product.aspx?Item=N82E16820231282&cm_re=gskill_trident_ddr3-_-20-231-282-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
Power Supply: 109.99 free shipping (89.00 after rebate) enter promo code: EMCYSNW38
http://www.newegg.com/Product/Product.aspx?Item=N82E16817139009&nm_mc=EMC-IGNEFL052810&cm_mmc=EMC-IGNEFL052810-_-EMC-052810-Index-_-PowerSupplies-_-17139009-LM1C
Case: 61.95 free shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16811129042&cm_re=antec_300-_-11-129-042-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
Hard Drive (boot & storage): 79.99 free shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16822152185&cm_re=samsung_hard_drive_spinpoint-_-22-152-185-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
DVD rom: 25.99 1.99 shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16827135204&cm_re=dvd_burner_sata-_-27-135-204-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
OS Winhttp://www.newegg.com/Product/Product.aspx?Item=N82E16832116752&cm_re=windows_7_oem-_-32-116-752-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID= 7 64 bit: 65.00 (your educational discount)
CPU Cooler: 39.99 2.99 shipping (stock fan is VERY loud)
http://www.newegg.com/Product/Product.aspx?Item=N82E16835103057&cm_re=coolermaster_cpu_cooler-_-35-103-057-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
CPU Thermal paste: 9.99 free shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16835100007&cm_re=arctic_silver_5-_-35-100-007-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
Video Card: 159.99 7.56 shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16814150462&cm_re=hd_5770-_-14-150-462-_-Product&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-RSSDailyDeals-_-na-_-na&AID=10521304&PID=3463938&SID=
Monitor 169.99 8.99 shipping ( 149.99 after rebate)
http://www.newegg.com/Product/Product.aspx?Item=N82E16824236050
Keyboard & Mouse: 49.99 8.95 shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16823126047&cm_re=keyboard_and_mouse_combo-_-23-126-047-_-Product
Speakers: 84.99 10.64 shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16836121036&cm_re=logitech_speaker-_-36-121-036-_-Product
Total before rebates: 1468.97
after rebates: 1415.39
I could drop the price even more with subsituting with this motherboard:
139.99 free shipping
http://www.newegg.com/Product/Product.aspx?Item=N82E16813128435
This will work but I prefer the board I suggested. If you can stick with my original suggestion I think you will be a little better off for it in the long run but its not the end of the world if you want to save a few bucks and go with this one, it should do fine. It would bring your cost to the following:
1388.97 before rebates
1333.97 after rebates
I also found a promo to upgrade the 750 watt psu to an 850 watter for the same price. You may never need that much psu but since its the same price it only makes sense to get it. Its better to have it and not need it than to need it and not have it as the old saying goes...