I configured your build within PC part picker http://pcpartpicker.com/user/wargod56/saved/29AW
Case: There have been large problems with this case previously IDK if they've been fixed or not in the new itterations of the case, the case is also very loud visualy (I'd choose something sleeker), also you picked a white version (which is fine) meaning that you may have a hard time matching colour schemes, are you sure you want a white case?
Mobo: it's reliable, but it's old and doesn't support fast memory, aesthetically it looks very industrial (I don't really like the colour scheme).
Graphics Card: It's fast, has a good cooler, and should run any MMO maxed out at high frame rates, I'm just wondering whether it would be worth getting a card from the new Nvidia 7 series Cards?
PSU: Build quality is good, it's efficient, semi-modular, but it does come at a price, it will probably last longer than the PC.
CPU: the FX8350 is getting old, it still works well but doesn't compare, gaming wise, to the new haswell 4670K, if you're editing aswell on the system the 8 cores will be handy, but otherwise in a gaming situation you won't match the performance of a chip with good per core peformance.
RAM: It is really hard to find a use for 16gb of RAM, it is overkill for most systems unless you are editing, the RAM you picked is quite expensive and there are cheaper alternatives.
HDD:This seagate is a really good pick, it's fast with it's 64mb cache, so frequently used programs that you have installed on it will load quicker
SSD: Its fast and a good looker, nuf said.
CPU Chiller: It's gonna cool your CPU well but there are more efficient cooling units out there, it has really good looks though.
OS:Win 7, I've been using it for a long while and I have only few gripes with it, it works really well, I haven't tried Win 8 enough yet to form an opinion on it. One thing in windows that may sound small but over time eats away at you (only mentioning it because you mentioned spending up to $150 on a sound system) is that Windows has a 'permanent' compression or limiter turned on that will make any dynamic music lose it's energy and deems any EQ useless, (I say permanent because no one has found a true fix yet) I'm not sure whether Win 8 has this problem, but XP didn't.
-Mouse; great mouse, haven't used one but people love it, Using my mouse (corsair M65) I find myself longing for a larger rest and extra ring finger button, razer have just released their naga 2014 edition which features mechanical keyswitches on the side buttons, and the build quality has increased from their old naga, no ring finger button though.
-Keyboard: Ever since MadCatz took over cyborg, peripherals from cyborg have increased in price loads, and then they introduce gimmicks to try to support the price, I would go for a clean and good quality keyboard like the corsair K95 (MMO style).
-Monitor: this selection looks like a case of 'I want the fastest', that asus monitor cost's too much for what you get, if you want a high refresh rate monitor 120Hz is fine, I really like BenQ's range of 120Hz monitors (they have really nice stands) they have a really clean apearance.
-Sound System: there are a lot of options for a sound system, do want surround, Hi-Fi, high end headphones, when and if you respond I can advise you then.
Conclusion: you have not given alot of info, so I can't evaluate it fully, I could give you more advise if you gave me more to work with (eg. requirments, aesthetics, everyday use, etc.)
here's my edit of your config http://pcpartpicker.com/user/wargod56/saved/29D5 (I didn't change CPU, Graphics card, or PSU).
I will be happy to respond to your reply.