Is this build stupid Y/N

This is what I've come up with so far, is there anything that should be changed or is otherwise stupid? (It's going to be used mostly for gaming.)

Case: Antec 300
GPU: Gigabyte 6970
CPU: Core i5 760
Motherboard: Gigabyte GA-P55-UD3
RAM: "A-Data 4GB (2x2048MB) 1600Mhz+ Series, CL8, PC3-12800"
DVD: Optiarc AD-7260S (Not going to use this much at all so it doesn't need to be great.)
HDD: 1TB Seagate Barracuda 7200.11

I already have a "hx520w" Corsair PSU lying around, it should be fine for this, right?
Also, should I pick, say, the GA-P55-UD4 motherboard instead? Am I mistaken in understanding it as it won't matter much if I go with the UD4 or the UD3 unless I'm specifically interested in the features the UD4 has?

Thanks!

It's pretty dumb right now, but that's mostly because of the soon-to-be-released Sandy Bridge CPUs. Other than that, there are some other issues.

Mobo: Not a great choice. They're older boards. I'd look at the Asus P7P55D-E LX (assuming no Crossfire). It's got USB 3/SATA III support, making it a lot more future proof. If you want the ability to Crossfire later, grab the Asus P7P55D-E Pro. I'm avoiding Gigabyte because they have a big issue with their P55 boards: you can't use both USB 3/SATA III and Crossfire/SLI at the same time.

HDD: The 7200.11 is a really old model. They also had probelms with turning into bricks. Grab the Samsung Spinpoint F3 1 TB. If that's not available, pick up the Seagate 7200.12 instead.

The 520W PSU should be fine, but if you want to do a lot of overclocking (GPU and CPU) or want to add other devices or cards, you'll likely need a bigger unit.

You do realize that preliminary testing shows that the next i5 (I don't remember the model #) is going to have something like a 20-30% performance increase (per anandtech's preview)? And it's going to cost roughly the same? How is that not going to decrease prices or at least offer greater performance for the same price?

The 6950 BIOS flash trick means that you should definitely get it over the 6970 I'm pretty sure that the cards won't burst into flames not really a rational fear

where are you getting your info, a 6GHz sempron?

How is AMD "smarter" for this price point, an i5 760 performs better yes the AMD is cheaper but it's a question of price/performance and in that aspect the i5 wins.

Next time come to the forum with real info