Hi there, welcome to the forums.
First thing, that GPU is a bad buy. It's a downgraded 460 with disabled shaders and bandwidth. Better to get a 6850 or 5770.
Get a better PSU. A CX 430, Xigmatek 400w, or Antec 380 would all be good buys.
That mobo would not be my pick. Look for a nice 880G board with Sata3 and USB3.
Lastly, I would get a better case. In general.
So that should help you out quite a bit! To get a better idea on things, check out the March System Builder Marathon PC. It is pretttty close to what you want, but packs more into the budget.