First time Builder, Cheap 420 dollar Gaming rig advice

Hello i'm new to both teksyndicate and the computer building world. I need advice and suggestions on building a cheap 400-420 dollar gaming rig (I live in Canada if you were wondering). I decided to use the pc building website commonly used on the site and i messed around and added a few parts together to try and make something. Can you tell me if this system works so that when i finish university in the summer I can begin building it. Any and all suggestions are welcome. However please try to keep the price of the unit as low as possible because school is expensive, haha.

http://pcpartpicker.com/p/ucNz

 

for games only:

Drop the optical drive and get cheaper hard disk, get a better video card (7850/7870/gtx 660/670)