I'll just add my own experience and though here.
I'm also in the process of building a new PC myself so I'm a bit aware of the mistakes to avoid.
- The motherboard you have linked is dedicated to over clocking the CPU.
The Z77 Chipset is the only recent one to allow this for the Intel 3rd generation Core series of CPU.
If you do not intend to overclock your CPU stay way from it since it is a waste of money.
- The processor you have linked is indeed a good one but it is from the previous generation of Intel Core CPUs.
The latest ones in the same series are more energy efficient and generates less heat while in full charge.
There is a small price difference (20$ or so) and it's generally worth to spend it in the long term, IMHO.
- The graphic is a good one I think, but I did not read review of this one so I cannot be sure about this.
Here is a link to a list of part I have made based on your budget and the help of a hardware review website which propose a choice PC rig based on purpose and budget.
Base Config, this config does not have a screen, keyboard, mouse or an optical drive, since I do not know you preference in the matter (classic or gaming keyboard an d mouse, simple optical reader drive or a writer, DVD or Bluray).
This one as a decent recent cpu, 4gb of RAM, a decent graphic card, an ssd so you can have performance with the system and 1To storage.
You can also change the case if you do not like its design of course.
Alternatively, you can have a more compact pc with more power but at a higher budget.
Obviously it attains your budget limit, and even a little over it maybe, which is certainly not good.
An example could be this build :
Higher price and performance example
This one has more performance nearly everywhere and with a more compact platform.
Again those are just examples I came up with and you could find completely different advice on the web.
Especially the graphic card is a tricky part to choose depending on your own preference and usage.
It is still true that AMD (ATI) has generally a better price/performance ratio, but nVidia fans (or addicts!) would certainly say that it is worth to spend a little more money and get a nVidia card since the driver support is better. That can be discussed for hours actually...
I would recommend that you try to ask for others advice at
Reddit Build a PC for me or in the forums of
PcPartPicker, there are generally could advice there.