I wouldn't trust the PSU listed in that build. "Specialized PSU Powered up to NVIDIA GTX580 or ATI HD5970" sounds a bit too fishy to me. Choose a good name brand one like Corsair or Antec. Skip the thermal compound. They should put a good quality compound without you having to pay extra. Get the i5 2500k. its just as good as the 2550k. For the RAM, I would get DDR3/1600 MHz. Lastly, if possible, get the 7870 or 7950. Performance should be similar but with less power draw.
Oh... and one more thing. You do know that this case is going to be small right. Just making sure cause its going to limit your expandability.
Hey thanks for the answer, I made most of the changes you said. HOwever, after doing some research i have gotten a little scared of cyberpower. They don't seem to be a great company. I have decided to build myself, so any kind of help i can get in that area would be much appreciated.
If that's what you decided, create a new sticky with that in mind. Remember to follow the sticky under the thread "how to ask for new build advice" as a guide. I don't know your budget so I can't recommend parts just yet. Since you're buying pre-built, I would assume 1000+. I'll start you of then with this:
G-skill Ripjaws 8Gb (4Gb x 2) DDR3 1600 Cl9 1.5 V RAM
WD Caviar Black 500 Gb (depends on how much you want)
Mushkin Chronos Deluxe 64 Gb or 128 Gb (note that its more expensive as you go higher)
Sapphire Radeon 7870
Seasonic S12II 520 W