I'd say it seems like a really good budget build, I'm pretty sure the 7950 can run many games on ultra. And if you two decides to overclock it, you can get a lot more perfomance out of it. I'd say you should give it a go.
I'd really like to see some pictures of the finished build, when that times comes!
The only thing i would change is the motherboard. The UD3 is prone to vrm overheating when overclocking so the UD5 shouldn't have that problem. I would've chosen the Asus 990FX pro but it was blue and wouldn't fit in the colour scheme.