Need some help and feedback on first computer build

[anoori9000]

This is my FIRST build. I intend on using it for gaming. I have a couple questions:
1. are all the parts compatible
2. is there any money saving downgrades that don't effect the performance much ( i know i could get a 760 but i'll just stay with the 670)
3. are the parts good quality
4. any tips for a first time builder
5. How do the mail in rebates work
6. is the thermal compound with my cpu fan better than AC5
7. Should i go for more ram

CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($239.99 @ Newegg)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ Outlet PC)
Motherboard: MSI Z87-GD65 Gaming ATX LGA1150 Motherboard ($177.99 @ Newegg)
Memory: Corsair Vengeance LP 8GB (2 x 4GB) DDR3-1866 Memory ($64.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($59.98 @ Outlet PC)
Video Card: MSI GeForce GTX 670 2GB Video Card ($299.99 @ NCIX US)
Case: NZXT Tempest 410 ATX Mid Tower Case ($59.99 @ Amazon)
Power Supply: Corsair Enthusiast 650W 80 PLUS Bronze Certified ATX12V / EPS12V Power Supply ($84.99 @ Newegg)
Optical Drive: Asus BC-12B1ST/BLK/B/AS Blu-Ray Reader, DVD/CD Writer ($47.99 @ Amazon)
Operating System: Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit) ($85.87 @ Outlet PC)
Monitor: Asus VE247H 23.6" Monitor ($152.99 @ NCIX US)
Keyboard: ROCCAT Arvo Wired Gaming Keyboard ($54.85 @ Amazon)
Total: $1329.60

 

[Tradesman1]

I'd change out the mobo, I won't touch MSI due to their poor QC, might look at the Asus Gryphon, Hero or Pro - rest of the build looks pretty good

 

[Scoutdrago3]

1. Parts are compatible but you should listen to @Tradesman1 suggestions of the MoBo.
2. Actually yes, you can go with the i5 3570K with the Asus Z77. That will save you a pretty good amount of money.
3. Yeah, just careful with the Haswell Processor, as they get very hot. You might want to get a Water Cooled cooler if you plan on OCing.
4.Make sure you handle everything carefully. Make sure your grounded, don't touch those little corner pins on the CPU. Also try to put everything as neatly and as carefully as possible.
5. Mail-In-Rebate means with the order you will get some money just for purchasing their items.
6. Don't understand what you mean by that, but usually that stock paste on the original CPU fan will work OK.
7. It would be better to get 3x4GB sticks, as most next-gen games need exactly 8GBs, you might want to stay ahead

Hope I answered all your questions the way you expected them. Good Luck with the build. If you need any more assistance just PM me.