Your PSU concerns me in that it is the bare minimum for what you need plus, it does not have PFC, meaning the AC current will have greater harmonics. Such a PSU is very inefficient relative to modern more upscale PSUs. For example, a non-PFC PSU can not even be sold in Europe (it should be that way everywhere.)
You should consider upgrading the PSU. In a few years of usage, an 80 plus Bronze PSU will actually pay for itself in electricity savings.
OK, suggested parts for video encoding (which covers medium gaming too):
For $500 I would get:
a
i5-2500kfor $179 if you live near a Microcenter. Otherwise,
Newegg has it for $225
Now choice of motherboards leaves much choice. I don't know if you have a favorite brand, but
here and
here, is a nice basic P67 motherboard that overclocks nicely and I would say is a bargain at $120
RAM...how 'bout
this.
There, $400 give or take! Now you can get a better PSU.