RAM and PSU concern me, slightly, in as much as I haven't a clue what the quality is like (I haven't even heard of Pareema). Re PSU: you don't need anything like 700W, for that build, unless you are planning on crossfire, in near future. 500W is adequate, get 550W, if you like. You should get i5-3570K processor. Better, but very little difference in price. If you really want to stick with the 2500K, change mobo to a Z68. The Z77 would work with a 2500K, but many of its features would not be used.
Don't forget, if you want to overclock, you will need an aftermarket cooler, for CPU. The cooler, that comes with it, is not suitable for overclocking.
What you have laid out seems a bit lopsided in some areas.
Firstly, you are looking at the i5-2500K which is a great processor, but your motherboard is designed for the new Ivy Bridge processors (Z77 chipset); you might be able to go with a Z68 motherboard and save some money while not losing any functionality. Secondly, the RAM you have selected is an 8GB DDR3 1333MHz module, it might be beneficial to go with a 2x4GB dual channel kit, this will allow you to utilize dual channel and it gives you a heat spreader for $1 additional cost. Third, all the components you have selected do not warrent a 700W power supply but rather roughly a 500W. Also, with a system like that you would benefit from a Solid State Drive.
Oh lol I forgot my ssd yeah i have a solid state drive and i changed my mobo to a less expensive one and decided to upgrade to a i7 2600k I might overclock but not for a while and I plan to crossfire so is a 700 watt psu good for crossfire?