An i7 2600k is not a good choice for gaming. An i5 2500k delivers the same performance in terms of gaming and for much less in price. With the extra money you saved, get a 1000W if you want SLI GTX 580 and an OCed CPU. Why do you need 16GB of RAM? That's useless for gaming. Get 4GB to 8GB. Anything more is wasting money. Get a cheaper motherboard. The P8Z68-V PRO is a great motherboard, but spending more isn't always a good thing. If you find any through where you are buying, post it here.
I'll also be doing lots of video editing as that is what I am currently studying. I read somewhere having more RAM and HyperThreading is good for running intense programs such Sony Vegas and video/audio editing.
Do you have any personal suggestions for another decent Z68 chipset motherboard?
The ASUS P8Z68-V PRO was one of the top selling and reviewed motherboards on Newegg, so I just went with it.
Hyperthreading only gives a 20% boost, which doesn't seem worth the extra $100. It's more of a want than need. The 16GB of RAM is fine to keep then. The P8Z68-V PRO is a nice motherboard, but I honestly would get something cheaper. AsRock and Gigabyte have a few nice Z68 MoBos: