It will all work, though a few things can be tweaked. That PSU is overkill for any single GPU setup. You don't really need so much RAM either. Savings there might go toward a somewhat bigger SSD. Bigger savings can come from going with an i5 over the i7. The i7 gives you a very small boost in stock clock speeds and hyper-threading; however most programs and games don't use the extra virtual cores. A few things like video rendering and a small number of games will go beyond the 4 cores the i5 offers but consider whether that's worth a difference of $100.
Pick which you care more about. Nothing is Perfect between those 2 card. If you care more about silent, I would choose ASUS, but if you care more about Overclocking, I would go for 670 PE. Both are Excellent card.