What games would I be able to run and what settings would they run on?
In terms of what games and how well. Without wishing to be rude, not many, not very well. To be honest, there are several things that could do with adjusting. Firstly, do you really need i7. Unless you are doing fairly high-end photo/video editing, and quite a lot of it, or CAD, there is virtually no point in i7 (I wouldn't necessarily recommend the 2600K, anyway). Much better to use something like i5-3570K processor, and Z77 motherboard, which would free up some funds, for a decent graphics card, that would give better gaming, if that's what you are looking for.