First, I'd highly recommend getting a Sandy Bridge build. It's not that much more expensive, and it's a lot more powerful. I'd say it's somewhere in the neighborhood of 50% more powerful for the i5-2500 ($210) or i5-2500K ($225). Check out either i5 (get the "K" one if you want to overclock), and pair it with a Gigabyte GA-P67A-UD4 ($190).
Second, don't touch a WD HDD right now. They're either more expensive for similar performance or more expensive for less performance (or less capacity). Here's what you should buy instead: Samsung Spinpoint F3 1 TB for $55.
Third, don't touch the GTX 470. It's a horrible card. It's fairly expensive for it's performance, requires a massive amount of power, and runs extremely hot. Instead, I'd get a HD 6950, which you can turn into an HD 6970 with a BIOS flash (google it). If you absolutely need a nVidia card, spend more to get a GTX 570 ($320 after rebate) or save money on a GTX 460 ($150 after rebate).
Foruth, I like Corsair PSUs, but right now, it's not the best choice. The XFX 750W is the same price (plus some shipping), but is modular and more efficient. Or the Antec Earthwatts 750W is cheaper. Both are just as high quality as Corsair. If you decide to go with the GTX 460, you can drop it to a 650W (the Antec Earthwatts 650WXFX 650W is the cheapest high quality one, not counting shipping).
If you're absolutely set on getting an AMD build, drop the X4 965 to a X4 955. They're the same CPU, just the 965 has a slight factory overclock. You can do the same by increasing the multiplier by one in the BIOS. You won't even need an aftermarket cooler. Then, swap the board you picked for an ASRock 870 Extreme3. You'll save a lot of money, and lose nothing. Then definitely ditch nVidia, as you can't do SLI with AMD. Or save money and get a single PCIe 2.0 slot board (like the ASRock 770 Extreme3) and the smaller PSU.