Verify your RAM is compatible with your motherboard (shouldn't be an issue).
Make sure your power supply is a quality power supply (Antec, Corsair, PC Power and Cooling, Seasonic, FSP - Fortran Source). 700 watts seems a bit excessive. I'd rather you go with a quality 550watt power supply than some unknown 700 watt PSU.
Otherwise, it all looks good. You're missing the case, optical drive and the operating system. If this system is primarily for gaming, I'd recommend looking at the Intel CoreI3 series processors, but I do understand budget limitations.
That CPU is a good all-around CPU though so I wouldn't go with an i3 over that. Either a Pentium G860 to save money, or a quad-core i5 for a better CPU that costs more. i3 is kind of a sideways move and you lose cores which makes it worse for multi-threaded use.
If you can find a 7850 for the same price I'd go with that over the 650 ti. If you went with a higher tier card though I'd go with a 660 over a 7850, and a 660ti over a 7870. If you switched to a pentium G860 and a sub-$100 motherboard you might be able to go bigger on the graphics.
If you are going to overclock your CPU make sure you get a good air cooler. If not then the Intel non-K versions make even more sense.