First build $1200 gaming PC, any thoughts?

Not bad for including an excellent 23" monitor, keyboard, mouse & speakers @ $400.

Corsair 650 is plenty of PSU for 2x 5770 CFX
There isn't a CPU cooler for your overclocking goal. How high did you want to get?

looks like a good system
I'm not a huge fan of Razor. Kinda overpriced (like Monster is for speaker wires). You could drop a couple of bucks w/ getting something from Logitech.
like WR2 said, you u wanna OC, you really should look at getting an aftermarket CPU cooler. Artic Cooling makes some inexpensive coolers that are cooler & quieter than stock

please dont spend 150 bucks on a mouse and keyboard, that can go towards your graphics card which (based on the card you provided) will bring your GPU budget up to $300. that means you can afford a 6950 which is MUCH better than a 5770 AND can be unlocked to a 6970.
also western digital > all  

xfx 6950: $290
http://www.newegg.com/Product/Product.aspx?Item=N82E168...

you might want to rethink your mobo as it only has 8x8x dupport for 2 graphics cards which means you have half the bandwidth if you decide to upgrade in the future.

EDIT:
http://www.newegg.com/Product/Product.aspx?Item=N82E168...
among the best cpu coolers out there, especially for its price. You need a cpu cooler

everything else is great  

ASRock 870 EXTREME3 870 SATA 6Gb/s USB 3.0 MB $90 does CFX @ x8/x8
Phenom II X4 955 Black Edition Deneb 3.2GHz $140 since you're going to be overclocking anyway
CM Hyper 212+ $30

I'm leaving your case choice (and it's $20 shipping charge) alone but you could save $45 with the excellent Antec Three Hundred Illusion $55 & free shipping

You can probably save another $50 with a keyboard & mouse change. A Starcrack keyboard is a luxury.

I'm on the boat with the other suggesters. Really since my last build I've decided that keyboard mouse aesthetics are useless, I use that budget money for my parts in my build more than the peripherals. Course the case has to look nice but I fit that into the budget just fine.

Hrm. I guess I could take a downgrade on the fancy aesthetics. Frankly I love them, and ideally they'd last long into future models. Plus, that keyboard is just downright awesome.

I'll look into the coolers though, thanks. And perhaps I can relocate some of those funds to the GPU...

I will give you one advice. From 955 - 965 it is SO easy to get the 955 up to the 965's level. All you really have to do is go into BIOS and press + on the multiplier about 2 TIMES! Then you get a 3.6ghz 955. Well this all depends on the grade of your CPU. My 955 reached 3.6 easily stable with no need to up voltage.

Seriously though, It's cheaper and better for the price.

The HD 6850 is a good starting place IMO. Add a 2nd when you can afford it and you can something that will really do well on the big 1920x1080 res monitor.

is 650w enough to Xfire 6850 ?

@OP - if you really want that mouse that's fine imo , since thats the one you will touch and hoLd everytime you use your computer . but your keyboard is overpriced  

Corsair 650TX has enough power for CFX 6870s.

Qty. Product Description Savings Total Price
1

LITE-ON 24X DVD Writer Black SATA Model iHAS424-98 LightScribe Support

LITE-ON 24X DVD Writer Black SATA Model iHAS424-98 LightScribe Support
Item #: N82E16827106335
Return Policy: Standard Return Policy




$22.99

1

Antec Three Hundred Illusion Black Steel ATX Mid Tower Computer Case

Antec Three Hundred Illusion Black Steel ATX Mid Tower Computer Case
Item #: N82E16811129066
Return Policy: Limited Replacement Only Return Policy

-$15.00 Instant



$69.99
$54.99

1

Seagate Barracuda 7200.12 ST3500418AS 500GB 7200 RPM SATA 3.0Gb/s 3.5" Internal Hard Drive -Bare Drive

Seagate Barracuda 7200.12 ST3500418AS 500GB 7200 RPM SATA 3.0Gb/s 3.5" Internal Hard Drive -Bare Drive
Item #: N82E16822148395
Return Policy: Standard Return Policy

-$10.00 Instant



$49.99
$39.99

1

ASUS VH238H Black 23" Full HD HDMI LED Backlight LCD Monitor w/Speakers

ASUS VH238H Black 23" Full HD HDMI LED Backlight LCD Monitor w/Speakers
Item #: N82E16824236117
Return Policy: Monitor Standard Return Policy

-$20.00 Instant
$10.00 Mail-in Rebate Card24-236-117


$209.99
$189.99

1

ASUS M4A89GTD PRO/USB3 AM3 AMD 890GX SATA 6Gb/s USB 3.0 HDMI ATX AMD Motherboard

ASUS M4A89GTD PRO/USB3 AM3 AMD 890GX SATA 6Gb/s USB 3.0 HDMI ATX AMD Motherboard
Item #: N82E16813131631
Return Policy: Standard Return Policy




$149.99

1

HIS H577FK1GD Radeon HD 5770 (Juniper XT) 1GB 128-bit GDDR5 PCI Express 2.1 x16 HDCP Ready CrossFireX Support Video Card w/ Eyefinity

HIS H577FK1GD Radeon HD 5770 (Juniper XT) 1GB 128-bit GDDR5 PCI Express 2.1 x16 HDCP Ready CrossFireX Support Video Card ...
Item #: N82E16814161338
Return Policy: VGA Standard Return Policy

-$20.00 Instant
$30.00 Mail-in Rebate Card14-161-338


$149.99
$129.99

1

CORSAIR Enthusiast Series CMPSU-650TX 650W ATX12V / EPS12V SLI Ready CrossFire Ready 80 PLUS Certified Active PFC Compatible with Core i7 Power Supply

CORSAIR Enthusiast Series CMPSU-650TX 650W ATX12V / EPS12V SLI Ready CrossFire Ready 80 PLUS Certified Active PFC Compatible ...
Item #: N82E16817139005
Return Policy: Standard Return Policy

-$30.00 Instant
$20.00 Mail-in Rebate Card17-139-005


$119.99
$89.99

1

LOGISYS Computer SP8000BK 4.1 Speakers

LOGISYS Computer SP8000BK 4.1 Speakers
Item #: N82E16836157008
Return Policy: Standard Return Policy

-$10.00 Instant



$64.99
$54.99

1

RAZER RZ03-00440100-R3U1 Black USB Wired Marauder StarCraft II Gaming Keyboard

RAZER RZ03-00440100-R3U1 Black USB Wired Marauder StarCraft II Gaming Keyboard
Item #: N82E16823114014
Return Policy: Standard Return Policy

-$20.00 Instant



$119.99
$99.99

1

Mionix Naos 3200 Black 7 Buttons USB Wired LED-optical Mouse

Mionix Naos 3200 Black 7 Buttons USB Wired LED-optical Mouse
Item #: N82E16826580003
Return Policy: Standard Return Policy




$54.99

1

Kingston 4GB (2 x 2GB) 240-Pin DDR3 SDRAM DDR3 1066 (PC3 8500) Dual Channel Kit Desktop Memory Model KVR1066D3N7K2/4G

Kingston 4GB (2 x 2GB) 240-Pin DDR3 SDRAM DDR3 1066 (PC3 8500) Dual Channel Kit Desktop Memory Model KVR1066D3N7K2/4G
Item #: N82E16820134718
Return Policy: Memory Standard Return Policy




$42.99

1

AMD Phenom II X4 955 Black Edition Deneb 3.2GHz Socket AM3 125W Quad-Core Processor HDZ955FBGMBOX

AMD Phenom II X4 955 Black Edition Deneb 3.2GHz Socket AM3 125W Quad-Core Processor HDZ955FBGMBOX
Item #: N82E16819103808
Return Policy: CPU Replacement Only Return Policy




$139.99



Grand Total:* $1,070.88

Drop the Asus board, pick up the Asrock Extreme3 870. It's cheap, just as good as the Asus and 60$ cheaper. Plus it has all things you need.

Thanks guys. managed to cut it down to 1055.

10$ cheaper on the ram, plus possible 10$ rebate.
http://www.newegg.com/Product/Product.aspx?Item=N82E168...