First Time Building a PC, How is this Build?

1. Full tower cases aren't needed for anything less than 3-way SLI or Crossfire.
2. You may as well upgrade to a blu-ray drive.
3. Why overkill the motherboard so much with a medium/high-range CPU and GPU?
4. The power supply is overkill.

These would be my suggested changes.

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: AMD FX-8350 4.0GHz 8-Core Processor ($199.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($31.98 @ Amazon)
Thermal Compound: Arctic Silver 5 High-Density Polysynthetic Silver 3.5g Thermal Paste ($6.73 @ OutletPC)
Motherboard: Asus Sabertooth 990FX R2.0 ATX AM3+ Motherboard ($179.99 @ Amazon)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1600 Memory ($84.99 @ Newegg)
Storage: Samsung 840 EVO 120GB 2.5" Solid State Disk ($80.99 @ Amazon)
Video Card: EVGA GeForce GTX 760 2GB Video Card ($249.99 @ Amazon)
Case: NZXT Phantom 410 (White) ATX Mid Tower Case ($92.68 @ Amazon)
Power Supply: EVGA SuperNOVA 650W 80+ Gold Certified Fully-Modular ATX Power Supply ($89.99 @ Amazon)
Optical Drive: LG UH12NS30 Blu-Ray Reader, DVD/CD Writer ($50.98 @ Newegg)
Operating System: Microsoft Windows 7 Professional SP1 (OEM) (64-bit) (Purchased For $0.00)
Monitor: Asus MX279H 27.0" Monitor (Purchased For $0.00)
Wireless Network Adapter: Asus PCE-AC68 802.11a/b/g/n/ac PCI-Express x1 Wi-Fi Adapter ($99.99 @ Amazon)
Total: $1168.30
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-04-21 10:57 EDT-0400)
 

Transmaniacon

Distinguished
PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($209.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($31.98 @ Amazon)
Motherboard: Gigabyte GA-Z87X-D3H ATX LGA1150 Motherboard ($141.99 @ Amazon)
Memory: A-Data XPG V1.0 8GB (2 x 4GB) DDR3-1600 Memory ($72.99 @ Amazon)
Storage: Samsung 840 EVO 120GB 2.5" Solid State Disk ($80.99 @ Amazon)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($59.99 @ Amazon)
Video Card: EVGA GeForce GTX 770 2GB Video Card ($354.99 @ Amazon)
Case: NZXT Phantom 410 (White) ATX Mid Tower Case ($92.68 @ Amazon)
Power Supply: Antec High Current Gamer 620W 80+ Bronze Certified Semi-Modular ATX Power Supply ($79.99 @ Amazon)
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer ($23.29 @ Amazon)
Wireless Network Adapter: Asus PCE-N15 802.11b/g/n PCI-Express x1 Wi-Fi Adapter ($27.99 @ Amazon)
Total: $1176.87
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-04-21 10:55 EDT-0400)

The i5 is a better CPU, you also get a better GPU, and a 1TB storage drive.