Are the components in this build compatible? It's my first attempt...

Well they're compatible but it's way mis-managed and needs a lot of tweaking before it's perfected. You've got a terrible choice for motherboard and you're spending $200 for a case, unnecessary sound card, 2700K, and a server-grade PSU. Put that money you're spending there into getting a 680 or a 7970 and upgrade your motherboard. Also what's the reasoning behind 4TB of HD space? You'll most likely never use all that unless you're doing some hardcore video editing.

You also might want to fix your links - there's a lot of extra code in them.

Try this:

Case: NZXT Phantom - $119.99
PSU: PC Power & Cooling Silencer MKII 950W - $149.99
Motherboard: Gigabyte GA-Z68XP-UD3P - $175.99
CPU: 3.30GHz Intel Core i5-2500K - $219.9
Cooler: Cooler Master Hyper 212 Evo - $34.99
RAM: 8GB Mushkin Enhanced Silverline 1333MHz 1.5V - $42.99
SSD: 64GB Crucial M4 - $87.99
HD: Samsung Ecogreen F4 2TB - $129.99
Optical: LG BD-R Burner - $79.99
Video Card: EVGA Geforce GTX 680 - $499.99
OS: Windows 7 Home Premium - $99.99

Total: $1,680.94

Check my sig for a better balanced build for your budget.

This will be a home theater pc/gaming rig. I need the sound card for excellent quality 7.1 surround for my 3d projector/7.1 system. I need a lot of memory because i plan on storing massive quantities of media. I also plan on buying another gfx in the futre. i already have 16gb of ram to install

also why i5 over i7? i have an i5 like the one you suggested in my current pc, can i transfer that one to my new mobo? also is the 680 better than 2 570s?

definitely going with yur mobo and the burner.

You don't need it on an HTPC / Gaming rig as you're most likely not going to use anything that requires hyper threading - put that money in the GPU - that's where it really counts, especially if you're going to be hooking up your rig to any sort of LCD / LED. Media playback actually doesn't require a 2600K - you can get by with far less.

i have been looking into it a lot today. looks like i can bitstream off the nvidia 680 so i wont need the sound card. also this is plugging into a 120hz projector and 1.4 hdmi receiver

it is a dlp projector and i will ostly game on it i just want to be able to play 3d blu rays as well

so can i take my i5 out of my current computer and put it in this mobo you recommended?

What type of i5 though? Is it LGA1366? Give us the model of the i5.

sucks i cant look it up cause im on deployment it came in my hp

I'm going to say most likely not - you'll have to buy a new CPU.

Well, when did you buy it? Although, it will not overclock. You might be able to reuse it, but I'm not sure.