yes its fine. It really depends on what level of frames per second is acceptable to you. I had a 560 ti I was playing at 40ish fps on ultra 1080. It would dip down into 35 a bit I bet, but it was still a blast for me.
With that resolution and that cpu + gpu combination you should get great results. No, you wont be getting 60fps at 1080 ultra, yes it will be very playable and awesome. I guesstimate around 45fps avg. Plenty of benchmarks out there including here on toms. cheers