Gaming PC/Build for $700

[ComputerNoobGuy]

I know as much about computers as I know about the female anatomy, but as with both I want to know.

Looking to spend $700 on a gaming pc that can run newer games but they don't have to be on max settings. I also need windows 7 and a monitor.

Im willing to spend a little more if I must for a monitor and the OS. This will be my first ever gaming pc so I just need something to get me started not trying to be king of the pc's

 

[Transmaniacon]

Here is one option, it is a little over budget, but I feel like the GTX 660 is the lowest I would go for decent 1080P performance.

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: AMD Phenom II X4 965 Black 3.4GHz Quad-Core Processor ($84.99 @ NCIX US)
Motherboard: ASRock 970 Extreme3 ATX AM3+ Motherboard ($87.99 @ Amazon)
Storage: Seagate Barracuda 500GB 3.5" 7200RPM Internal Hard Drive ($49.00 @ Compuvest)
Video Card: EVGA GeForce GTX 660 2GB Video Card ($187.99 @ Newegg)
Case: Corsair 200R ATX Mid Tower Case ($29.99 @ Newegg)
Power Supply: XFX 550W 80 PLUS Bronze Certified ATX12V / EPS12V Power Supply ($54.99 @ NCIX US)
Optical Drive: Lite-On iHAS124-04 DVD/CD Writer ($17.98 @ Outlet PC)
Operating System: Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit) ($89.94 @ Outlet PC)
Monitor: Asus VE248H 24.0" Monitor ($139.99 @ Newegg)
Total: $742.86
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-05-22 15:04 EDT-0400)

 

[ComputerNoobGuy]

Dude I freaking love you