HELP! Building my first Desktop

Ok so this summer I have decided to build my very own desktop computer. I have been doing some research and have parts picked out. I will be using this computer for gaming and work so it needs to be decently powerful but not so much so that I end up spending a gazillion dollars. I need to know if these parts will all work together correctly and if they are worth the cost. Also suggestions on other parts to use instead would be greatly appreciated.


Case: Cooler Master NV-334-KWN1-GP Elite 334 nVidia Case - ATX, mATX
$50

Motherboard: ASUS Rampage II Extreme LGA1366 Intel X58 DDR3-1600 ATX $355

Processor: Intel Core i7-950 Processor 3.06GHz 8 MB Cache Socket LGA1366 $260

Memory: Corsair TR3X6G1600C8D Dominator 6 GB 3 x 2 GB PC3-12800 1600MHz 240-Pin DDR3 Core i7 Memory Kit $103

Hard Drive: Western Digital Caviar Black 1 TB Bulk/OEM Hard Drive 3.5 Inch, 32 MB Cache, 7200 RPM SATA II WD1001FALS $85

Graphics/Video: VGA nVidia GeForce GTX 470 1280 MB DDR5 2DVI/HDMI PCI-Express Video Card $260

Sound Card: HT | OMEGA STRIKER 7.1 Channels PCI Interface $75

Network Card: VisionTek Bigfoot Killer 2100 Gaming Network Card



Thats it! so please, please help me out. I'm new to building PCs and want to do it right the first time. Is this setup acceptable or even possible? I really need feedback!