You don't need a Core i7. Just buy a Core i5 3570K, much better. As for everything else, it looks GREAT, just make sure you buy a good hard drive, and that your SSD is from a good manufacturer, like Samsung. Also, you don't really NEED a water cooler unless you're gonna be doing hardcore overclocking. Invest in like, a Hyper 212 EVO, it's 30$ and it performs pretty damn well.