That memory is triple channel, you need dual channel such as 2X4GB. I would really try for a little better GPU but then that's another $75-$100. Maybe an AMD 6850 in the $140 range.
The 700 Watt PSU is a bit of excess considering you can't SLI. Nice PSU though...
How about $20 for a DVD burner?
OS and Optical aren't really important, I just need to make sure all the part work. I understand it is triple channel but is it possible to get 12 GB in dual channel? I haven't found any 6gb ram sticks, can you recommend a processor, I will switch the mobo.