Please Help Me Pick Components!

I would like a to build a gaming computer.  I have a $700 budget and I already have Windows, a mouse, and a keyboard.  Please help me find parts! This is my first build and I don't have any experience with buying components.  If you can give me monitor suggestions that would be nice too, but it won't be included in my budget.


Here's what I'd do:

Should play pretty much everything rather well and just about all the components are very common and well liked.

If you need an optical drive I'd switch out the case for something like the Corsair 300R and add something like the ASUS CD/DVD drive.

Thanks so much!