Yes, you won't really need a 700W PSU though, unless you intent to overclock/SLI.
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600/650W PSU should be enough for you if you're not OC/SLI'ing and if you plan on gaming/watching series i'd strongly reccomend getting a 1TB HDD since they aren't that much different in prices (atleast where i live)
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The external HDDs are generally cheaper than the internal ones. Find a cheap 1TB external HDD and crack it open and use the HDD inside.
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^ This. You'll almost never need an i7, unless you're doing some crazy shit. You might even be able to move down to an i3 and not get too much of a performance hit.
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Seconded. The i7 comes with all kinds of fancy bells and whistles that won't help you a bit if all you're after is game performance. (If you're planning on doing lots of video encoding, stick with the i7 however). Most i5 models can also be easily overclocked if you need the extra juice. And don't forget to get a decent cooler for your CPU.
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The setup you posted looks really good!
The only thing is can really advise you: like meltdown said, buy a 1TB hdd or larger for your DATA.
and buy an SSD (i've got an OCZ Vertex 4 256gig myself and its great!) for your operating system, and most used programs.
I really can advise you either the OCZ Vertex 4 or the Crucial M4. The price depends on the size.
I payed 200 euros for my 256 GB OCZ Vertex 4 and a 256 GB Crucial M4 costs 180 euros (that are Dutch prices from a wellknown hardware seller)
tl:dr?
buy a higher capacity harddrive (1TB or up) for your data
buy a SSD (my advice, go for a OCZ Vertex 4 or a Crucial M4) for your operating system (i guess windows 7?) and most used programs.
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The I would strongly recommend getting the i5 3570K which can be clocked close to the i7 3770K, use money saved there and get a Samsung 128gb SATA III SSD as a boot drive. You'll thank yourself for getting a SSD.
Also I noticed you don't have any CPU cooler. If you are planning to OC the CPU then don't use the stock cooler. I recommend the Noctua nh-d14. Big, but good. If you aren't planning to OC the CPU then don't go for the K series CPUs and you will save more money there.
Nice GPU. I have the Windforce too. Its great. The cooling works great. I plan to get a second one next year and SLi them. :-)
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I want to buy new computer. Will be this config good?
Mainboard: GIGABYTE GA-Z77-D3H Z77 s.1155.
CPU: Intel Core i7 3770
GPU: Gigabyte GTX670 2048MB 256Bit PCI-E OC.
RAM: Corsair Vengeance 2x4GB, DIMM,1600MHz, DDR3,CL9,XMP,Non-ECC,with Heatsink (blue).
HDD: WD Caviar Blue WD5000AAKX 500GB sATA III 16MB.
Power Supply: OCZ ModXStream Pro OCZ700MXSP-EU 700W.
Tower: Cooler Master Elite 430 RC-430-KWN1 Black Window.
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