Definitely get a better psu. I would recommend a corsair tx 650 (70$@amazon), and a better graphics card, but it comes down to how much you want to spend. Also I would prefer a different case like a zalman z9 plus or a fractal design arc midi.
1. PSU - Try to check this, http://www.eggxpert.com/forums/thread/323050.aspx
So better get a better quality PSU. 500w will do but you can up that to 600w for single gpu build , and 750 for dual gpu.
2. mobo - Since I think you'll plan to overclock, better get a z77 board.
3. GPU - Get a beter GPU. atleast a 660/660ti/670 for nvidia or 7870/7950 for ati. Depends on your budget.
4. Cooler - You'll need a cpu cooler once you overclock.
5. RAM - There are cheaper and better ram, check gskill, corsair. get also 8gb 2x4 1600
6. Why use 2 hdd at 500gb? better get an ssd.
7. You could find cheaper and better cases but it would depend on your preference.
The psu i dont think is suitable as it isnt modular and cable management is becoming more important to me, the case is fine as it has plenty of space just not great cable management provides pretty good airflow too. Cpu is a little hot so a cpu cooler would probably be in order, but overclocking isnt needed and whats wrong with the ram i have?
I built the system around christmas time in 2011 so this has already been upgraded this is an upgrade list the graphics card i bought literally a week before the 670 came out and i couldnt find any info on the 670 at the time
Im not too keene on over-clocking just want a stable cpu with a nice cooler temperature
The psu im looking at an
Antec High Current Gamer 520W HCG-520
Or something more modular which i desperately need
If you get a "K" unlocked cpu, definatly get a z77 motherboard (H61 don't allow any overclock) to overclock or get a non-k version as if you don't plan on overclocking, you throw cash right here...
Thermaltake is not a good psu brand, get some Corsair, Antec, Coolermaster (they're the most cheap and still good at the same time) I have a 1000w Cooler Master Silent Pro gold and a 500w NeoHE from Antec, i recommend both, very silent and great durability my Antec is 7-8 years old still running and most of it's life is 24/7 maybe 350 days a year so...
You could get a single 1 tb for less than the 2 500gb you have listed (a caviar blue is 69$ for 1tb in canada (don't know in your country) And i have 2 in raid 0 but 1 is faster than my old dual 250gb seagate in raid 0 so just 1 drive will be fast enough (sequantial bufferead read about 450mb/s in my test and 125-130mb/s continous so not bad at all) and a black will be ever faster than that so you can grab one of these too... You could also grab a 1TB plus a 64gb SSD with the cash saved and smart response this drive and cache your HDD to have SSD like performance...
60$ for 8gb of ram is really not worth it, grab some kingston hyper-x or Corsair vengeance, you'll pay 30-40$ max for a 1600 Cl9 8gb kit...
For the same price, you can grab a 660 (non-ti) or a 7770-7850 that run about the double fps in games than an old 560ti (but if you want one, i have 2 to sell as a single 660ti is equivalent to dual 560ti)
And finally, if you want to overclock with a Z77 chipset, grab a Coolermaster hyper 212, it's the cheapest good heatsink that you can grab (30$) and does the job, you'll get a 4.6+ overclock without trouble with that... (grab the "plus" or "EVO" version of it)
The hyper 212 evo was what i was originally looking at for the cpu cooler but i found a better psu from what i currently have thats modular and better then the antec i posted above its a
OCZ Fatal1ty Series 550W Modular
Together with the cpu cooler and psu it would cost me around $100-$120 shipped
And you can keep your two 500GB but buy one SSD at least. I think SSD is the thing which is really necessary to make your computer fast. a Corsair force series 240GB will be enough for you. And buy one more if you have a fat wallet