Yes the h50 isn't any better than air cooling that cost about 1/2 as much such as a Hyper 212+ or similar cooler.
The processor and mother board or even platform such as amd or intel is a personal choice but for what your spending I would have went with a sandy bridge as (intel) has stated that the chipset will have an upgrade path with the ivybridge processors. And the Power supply is way over what you would need even with a lot of head room left. I mean you could run 2 6990s with that PSU. For 2 of the GPUs you have listed even a quality 850w would be enough and still give you some head room.
But thats just my opinion.
I mean if your happy with your build thats really what counts.
I know I went big on the power supply, but I was able to find it for $209. Very reasonable. I wanted to make sure I would have enough power to run crossfire later. I didn't want to go Intel. I just like AMD. I like the value and the fact that they are the underdog battling the Intel giant. Plus it is a hexa-core processor for $230. Intel's hexa-core processors cost $600-$1000. I was able to get the H50 cooler for 65 bucks.
^ Umm... Did you read the benchmark I posted? The 2500K (Quad-core) kills a Hexa-core of AMD. Who cares about Hexa-core if the every day functions can't compete with a quad core. Also the H50 @ 65$ is quite a lot of money when a Hyper 212+ (as listed by galeener) is only 30$ and does the same job. Though it is preference i suppose.