I'd NIX the XFX brand video card.
Stop that video card immediately and try a different model.
I highly highly highly recommend going w/ a different model with a GPU cooling design that is NOT the stock AMD. A good example is the MSI Hawk series. Sure it costs a little extra, but its definately worth it.
Reason: My XFX 5770 with stock AMD cooler is a LEAF BLOWER. it is SOO loud, and runs close to 90% fan until I get to the desktop where win drivers can slow it down. So what do you do on linux? Well, I'll tell you what you do, you listen to a leafblower. When gaming, the card is loud.
Don't buy that video card if you like peace of mind, in the slightest. Choose a different version of the cooler. I think asus or msi have different quieter more effecient desgins on their 5870's
ALSO!!!! Something to think about. Holding out on the build. That video card is very VERy very Very VERY very close to outdated. The southern island launch is litearly right around the corner, with new cards coming out. From what I've heard, things are impressive. I'd personally wait. Go play your PS3/360/Ds/PSP for a bit. or if you are set on that card, at least wait for prices to shift down after/during the release of southern islands.
On the ram: Good pick. RipJaw and G.Skill are the best period. Recently bought some OCZ and it won't work at advertised speeds as many many many users have reported. I got totally jipped.
On the PSU: Don't get the TX version. Spend the little extra dough and buy the modular PSU version. I KNOW, I bought the TX w/ the attached cables.....and I have to stuff them e*verwhere~! in my case. if I had spent 20$ extra, I'd have a much cleaner build and case. otherwise you most assuredly picked one of the very best PSU MFG's. I'm very happy with my corsair. very quiet too.
Good pick on the Western Digital. From over 15 years experience parting my builds together, the best HD's I've seen are Western Digital and Samsung. Noise plays a big part for me. In terms of speeds you've picked the fastest non solid state drive. I stay as far away from Seagate as I can.
I forgot to mention. Don't buy that ASUS MOBO! I've got one from the same line and let me tell you two very very bad things with this line of motherboards. ONE) Once you upgrade the BIOS, you are unable to downgrade it. This is highly annoying and if I had known I wouldn't have bought the P7P55D Deluxe. TWO) If you plan to OC, turning on Power Saving options (C1E) with an OC'ed BCLK, the board will start creating a well defined high pitched squeeling electronic noise. Thus, you CANNOT run power saving options on OC, unless you like high pitched electronic noises. just do some searching for it....you'll see what i mean. if not, I can PM you some links. hell its even in the Asus forums.
My suggestion, get the MSI equivalent.
Where did all this advice come from? Well I just built a new build for SC2 (regrettably, total waste of money, still not happy with performance. but HEY thats pC gaming for you) I feel the build is partially gimped for the above reason after spending 700$ is combined upgrade.
Oh, one more thing. On the CPU cooler. I KNOW that cooler is recommended by customPC magazine and has sold like a trillion at new egg.com with lots of reviews. However, its not very highly regarded, i don' think, in more hardcore/quiet computing circles. I'd probably search a little more. I personally have a scythe mugen 2 rev b, i got on sale for 30$ and I'm very pleased with its build quality. It however is pretty dang unwieldy to mount and manage. I'd do some more research there.
The more you research, the less possibility you have for pitfalls.
In the end: if you are a newer user to PC's, I doubt you would notice any of the above mentioned flaws. In this case, proceed on, as the build for the layperson is a very good build, and I give you major props for assembling such a fine list. I'm just taking your build from 95% to 99%.
hope this helps. I just want to share my mistakes with a new i7 builder. (mine was actually an i5/good pick on the i7 proc) someone should learn from my mishaps.