First Time Builder; Requesting Validation on Potential Build

Hi, all. Will-be first-time builder here. Working with my brother to create a gaming rig, but hoping for some experienced vets to review our (potential) build:

Approximate Purchase Date: 2-3 weeks
Budget Range: $1700 USD, before rebates, before shipping
System Usage from Most to Least Important: gaming, video editing
Are you buying a monitor: TBD
Do you need to buy OS: Will be purchasing Windows 7
Preferred Website(s) for Parts: Newegg,, Amazon
Overclocking: No
SLI or Crossfire: Maybe

CPU: Intel Core i7-3770K 3.5GHz Quad-Core Processor ($319.99 @ Amazon)
CPU Cooler: NZXT HAVIK 120 75.8 CFM CPU Cooler ($49.99 @ Newegg)
Motherboard: Asus P8Z77-V DELUXE ATX LGA1155 Motherboard ($267.17 @ Amazon)
Storage: Western Digital Caviar Green 2TB 3.5" 5400RPM Internal Hard Drive ($139.99 @ Adorama)
Storage: Sandisk Extreme 120GB 2.5" Solid State Disk ($96.98 @ Outlet PC)
Video Card: Gigabyte GeForce GTX 670 2GB Video Card ($399.36 @ NCIX US)
Case: NZXT Phantom 410 (Gunmetal/Black) ATX Mid Tower Case ($99.88 @ Outlet PC)
Power Supply: Corsair 1200W ATX12V / EPS12V Power Supply ($258.28 @ Amazon)
Optical Drive: LG WH14NS40 Blu-Ray/DVD/CD Writer ($79.98 @ Outlet PC)
Operating System: Microsoft Windows 7 Home Premium SP1 (64-bit) ($89.98 @ Outlet PC)
Total: $1801.60

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More about first time builder requesting validation potential build
  1. You are getting a board that Overclocks, a CPU that Overclocks, and a cooler that is mostly helpful for Overclocking, yet you won't overclock. That PSU is WAY overpowered and not worth it. Nothing uses that much power anymore.

    Here's a better build.
    PCPartPicker part list / Price breakdown by merchant / Benchmarks

    CPU: Intel Core i7-3770 3.4GHz Quad-Core Processor ($289.99 @ Newegg)
    Motherboard: ASRock H77 Pro4/MVP ATX LGA1155 Motherboard ($97.55 @ Newegg)
    Memory: Samsung 8GB (2 x 4GB) DDR3-1600 Memory ($44.99 @ Newegg)
    Storage: Seagate Barracuda 1.5TB 3.5" 7200RPM Internal Hard Drive ($69.99 @ Newegg)
    Storage: Crucial M4 128GB 2.5" Solid State Disk ($109.99 @ Newegg)
    Video Card: Asus GeForce GTX 670 2GB Video Card ($419.99 @ Newegg)
    Case: Corsair 500R Black ATX Mid Tower Case ($99.99 @ Newegg)
    Power Supply: Antec 520W ATX12V / EPS12V Power Supply ($53.98 @ Newegg)
    Operating System: Microsoft Windows 7 Home Premium SP1 (64-bit) ($99.99 @ Newegg)
    Total: $1286.46
    (Prices include shipping and discounts when available.)
    (Generated by PCPartPicker 2012-09-02 00:32 EDT-0400)
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