Drop the i7 to an i5-3570k. There's not really a need for hyperthreading for what you're doing, and it saves $100.
The H60 is just about useless. A Hyper 212 EVO will outperform it. Just don't buy a closed circuit water cooler - there are WAY too many moving parts that can fail, and when it does, there's no backup heatsink.
Is your motherboard the sabertooth with the heat shield? Either way, it's silly overpriced, but the heat shield actually hurts thermal capacity.
Unless you really really want it, don't get 16 gigs ram - even 8 is plenty for running a game, photoshop, and 20 tabs open all at once.
The HAF x is overpriced, large, and heavy. Go for a midtower.
Now then. With that sort of budget, and the money I just saved you, there is NO excuse to not have an SSD. It's the single best upgrade you can do now to make a computer feel faster. From power button to usable desktop will be about 20 seconds - opening photoshop will be less than a second. Get an OCZ Vertex 4, Crucial m4, Intel 520, or Samsung 830/840pro. 128 should be good - put the OS, programs, and any games with long load times on it. (Though try to keep it below half capacity.)
EDIT: Damn excella, you're fast, and with the exact same info. XP ...That being said, would a 120HZ monitor make sense? They're bloody amazing but I can't see a single 670 running at ~100 fps without quality compromises. (Even MMOs you'd have to turn off triple buffering...)
Of course. I hope you listen on the heatsink and motherboard, though... having parts overheat is NOT fun, and closed watercoolers like the H60 are NOT reliable. (You're also paying wayyy to much for what equates to just looks on the Sabertooth.)
About the 120Hz monitor, true it shouldn't get anywhere near 120fps on modern games, but it should go over 60 on some, and the 120Hz will increase the fps cap without tearing. Also, no disadvantages on a higher monitor refresh compared to a higher fps.