System Usage from Most to Least Important: Mostly for gaming.
Parts Not Required: Just need a complete box.
Country: South Africa
Parts Preferences: Asus, intel and Nvidia
Overclocking: Maybe, but not immediately. If system is struggling to run games I will consider overclocking.
SLI or Crossfire: No
Additional Comments: Want to be able to play most games with good graphics and little lag. Is this setup upgradeable or will I Have to buy a whole new setup in 2 years time to run games at good graphics with little lag?
dipp down your cpu to 2500k there's not a massive difference b/w 2550k or 2500.. Spend a money to get a better psu like antec or cooler master gx 550w.. Otherwise system seems perfect.
The only differences between 2500K and 2550K are a slightly faster clock and you forfeit use of onboard video - which is useful for diagnosing GPU problems.
Cooler Master is *NOT* a good choice for PSU - despite that they make excellent cases and heat sinks - because they slap a lot of fake labels and certifications on them. Corsair or Seasonic would be better choices than Antec or Cooler Master.
That motherboard is major overkill though - I'd suggest dropping that to say the Asrock Z68 Extreme 3 Gen 3, and upgrade your GPU to a Radeon 7870 or GTX 670 if your budget allows for it.