Building a new gaming system

Update, I have an old full sized case.

Assuming you are playing on 1920x1080 there are a few changes I would make.

First of all your video card, I would go with a GTX670 or a HD7970 GHz edition. The 7970 will give you better than GTX680 performance for a slight premium and OCs like a beast so is more future proof.

You don't need that much PSU, a good 650W from Corsair would be plenty. I got an AX750 from Corsair for my recent build and couldn't be happier.

For gaming at most you need 4GB of RAM, but 8GB is so cheap, that you have no reason not to get it. 32GB of RAM is completely wasted on gaming.

The processor is fine, but for gaming, you could go down to an i5-3570K and not notice a decline in performance.

The motherboard is a little crazy. I wouldn't spend more than $175 tops on a motherboard for gaming. Brand preference being different for each individual, I like MSI, but have heard great things about ASUS, Gigabyte and ASRock just to name a few.

The Idea is that I wouldnt have to upgrade it any time soon. Is this still to overpowered?

I would rather see a seasonic or corsair psu. 1500 wattage is way to much. I would suggest get 16gb of ram as well. a good sabertooth motherboard would be just fine for the 3770k. I would also suggest maybe waiting if you can for the new ati 8XXX series to come out to see how they compare to current gen.