In general, Newegg's massive combos aren't that great. You generally do better picking your own parts. Also, such a small SSD is a bad buy. Once you leave the almost required 20% free space, and the 16 GB need for the OS, you don't have much space left. Also, I really wouldn't get any SSD that's not from Intel, OCZ (Vertex 2 or Agility 2) or G.Skill (their Phenoix line). Leave it out to upgrade the rest of the parts instead.
So on to the specific problems with the combo.
HDD: The 7200.11 is not only slow, it's unreliable. Seagate has had massive problems with that drive. It had the tendency to turn into a brick. A really common problem. Instead, get the Samsung Spinpoint F3 1 TB for $55 (after promo).
Case: I like the 300 Illusion, but I also like some other cheaper cases too. Like Rosewill's Challenger or Destroyer.
Mobo: Not a bad choice, but the H67 chipset is meant to be paired with the i5's integrated graphics. Since you're buying a discrete card, you don't need that. Find a good P67 board instead. You'd also be able to pick up the ability to Crossfire by choosing it yourself. Or not, if that's what you want.
PSU: Perfect choice. If you don't want to Crossfire later, drop it to a 550W from Corsair, Antec, Silverstone or SeaSonic.
CPU: Another good choice, but I like the i5-2500K more if you want to overclock.
I didn't total that up, but you should be close to what the total price is of the combo. So what to do with the extra $100 ($80 after the discarding of the SSD)? Why, get a bigger GPU of course! Like the HD 6950, which can be turned into an HD 6970 with a BIOS flash.
If you don't store big files, you can get a smaller & arguably one of the fastest HDD drive: SAMSUNG Spinpoint F4. Save your money on SSD. It's still overpriced IMO. Use the savings on a better gpu. Well, it's a gaming rig.
HD 6850 is the last card I'd get for gaming, especially when Cayman has already come out. Better performance & more power efficiency.
As for mobos, get a P67 for about the same price. If I'm not mistaken, the H67 doesn't support CF/SLI if that's your thing. I've rma'ed more gigabyte boards than any other brands. ASUS maybe once years ago. MSI 0.
I'd like to point out the difference between the 2500k & 2500 in case the OP hadn't noticed. The 2500 has Intel® Trusted Execution Technology & Intel® Virtualization Technology for Directed I/O (VT-d) whereas the 2500k doesn't.
"Intel® Trusted Execution Technology (Intel® TXT)
Intel® Trusted Execution Technology for safer computing is a versatile set of hardware extensions to Intel® processors and chipsets that enhance the digital office platform with security capabilities such as measured launch and protected execution. Intel Trusted Execution Technology provides hardware-based mechanisms that help protect against software-based attacks and protects the confidentiality and integrity of data stored or created on the client PC. It does this by enabling an environment where applications can run within their own space, protected from all other software on the system. These capabilities provide the protection mechanisms, rooted in hardware, that are necessary to provide trust in the application's execution environment. In turn, this can help to protect vital data and processes from being compromised by malicious software running on the platform."
"Intel® Virtualization Technology (Intel® VT) for Directed I/O (Intel® VT-d)
Intel® Virtualization Technology for Directed I/O (VT-d) extends Intel's Virtualization Technology (VT) roadmap by providing hardware assists for virtualization solution. VT-d continues from the existing support for IA-32 (VT-x) and Itanium® processor (VT-i) virtualization adding new support for I/O-device virtualization. Intel VT-d can help end users improve security and reliability of the systems and also improve performance of I/O devices in virtualized environment. These inherently helps IT managers reduce the overall total cost of ownership by reducing potential down time and increasing productive throughput by better utilization of the data center resources."
with an i5 2500k, is there a possibility of bottlenecking with a GPU that is overkill for my needs? I do not plan on overclocking...at least not initially... I am very new to all this and maybe if i get more comfortable i may try it. same for sli/xfire, not planning on it, but who knows down the road. so i do want a mobo that i can upgrade later.
i wouldn't be opposed to using an i5 760 to keep the build + monitor under 1k. I just want to stay with intel.
The i5-2500K won't really be a bottleneck until you start adding mroe GPUs. In fact, the CPU is rarely the bottleneck in gaming uses (which is the most intense thing you're doing).
SLI is a good option to have, even if you never end up using it. I'd say it's probably safe to leave out if you're really close to your budget.
I wouldn't touch the i5-760. Period. You won't save much. The i5-760 is going to cost about as much as the i5-2500, and the LGA1156 boards cost about the same. You'd be paying the same amount of money, yet getting 20-30% less performance.