All the parts are compatible, but I would make several small changes.
The H50 is an overpriced part; many air coolers perform as well or better for less money. Take a look at a few of these. The Sniper is a great case and fitting a large cooler will be a breeze.
The PSU is overkill. I suggest a Corsair or XFX 750W, or even 650W.
The soundcard is unnecessary, unless you're a true audiophile. Today's motherboards have sufficient onboard audio for most users, including gamers (although I wouldn't recommend an Intel board).
I suggest getting this set of RAM over the Corsair set. Great brand, CL7, 1600MHz for $175.
I also suggest getting a Samsung Spinpoint F3 1TB if it's in stock, in place of the WD Black. If it's not in stock, get the Seagate 7200.12 1TB. Both are based on the newer 500GB/platter design, so they run faster and more efficiently than most WD drives, including the one you listed.
I don't see the point of getting two burners, but perhaps you have some other purpose for that.
Again, I wouldn't get an Intel board. Consider Gigabyte and ASUS.
The i7-930 + 6GB RAM + 5850 is the way I'd go for a gaming rig ATM, if I felt the need to build one. It won't have any trouble with video editing either.