1st build what do you think?

hello this is my first computer that im going to be building, the main uses willl be for gaming and running design software.
this is it:

CPU
($209)-i5 2500k
or
($159)-AMD Phenom II X4 970

MOBO
($80)-Gigabyte H61M-D2P-B3 Intel H61 Motherboard

PSU
($67)-Cooler Master RS700-PCAAE3-US Power Plus 700-Watt Power Supply

CASE
($39)-Thermaltake Mid Tower Gaming Case - ATX, Micro ATX, 4x Ext 5.25", 1x Ext 3.5", 4x Int 3.5", 1x 120mm Blue LED Fan, 2x Front USB Ports

Graphics
($129)-Radeon HD 6770
($180)-XFX HD-685X-ZNBC Radeon HD 6850 Black Edition

RAM
($75)-Corsair CML8GX3M2A1600C9 Vengeance LP Desktop Memory Kit - 8GB

so since this is my first build are there any mistakes im going to make with these parts?
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More about build think
  1. Give us more information like budget, monitor resolution maybe some programs you plan to run on this pc and then we can help...
  2. Can you fill this out?
    http://www.tomshardware.com/forum/261222-31-build-advice

    Why would you get the 2500K but have an H61 MB restricting it?
    PSU is a bit bad, The Cooler Master units (BESIDES THE SILENT PRO) are pretty short life units soo...
    Way too expensive ram, 8GB DDR3 1600 is only $50 even less in some cases.
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