Overkill CPU. i5 3570K/i5 2500K will suffice. Get the ASRock Pro 4/Pro3. Will also suffice. 6850 is a tad weak, so get the 6870. 750W is really overkill. 500-600W will be more than enough.
Agreed on the CPU downgrade. It seems that he wanted to overclock, so is there a point to downgrading the motherboard? The one he picked has twice the number of phases compared to the Pro3/Pro4.
The graphic card might not be the best, but he said that it's for light gaming. (I assume he will play things like Source games)
PowerColor doesn't seem to be the best tough. OP, You should buy a MSI, Gigabyte, Asus or Sapphire card.
I downgraded the CPU to the i5 3570, changed the psu to an antec true power 550 watt, and changed the graphics to an ASUS Ati hd 6870. With the savings I decided to buy new case instead of re-using a prior build. The case I went with is the Roswell challenger.
I do want the option to OC in the future, so I stayed with the Asrock z77.