Motherboard: Spend about $200 less, not that that's a bad motherboard, it's just more than you'll ever need. Right now Newegg has an MSI Z77 board with thunderbolt for $145 after $15 rebate plus it comes with 8GB of ram.
Ram: Covered, so $150 less, but if you don't do the newegg deal only spend around $50 for 2x4GB.
CPU: I'd go down to the I5-3550k, but there's nothing really wrong with the I7, it's just that for $100 more you aren't seeing the gains unless you are doing serious video editing or 3d modeling.
GPU: I would look at either GTX 670 or Radeon 7970, they'll run you about $400, they are neck and neck in terms of speed. It might be worth waiting a few months though, with new cards coming soon.
PSU: 1200w is overkill, especially without an SLI heavy setup. IMO though, don't even think about SLI unless you are a tweaker hobbyist. There is microstuttering with SLI, then you have to deal with some games not set up properly for SLI, then you are waiting for patches and driver updates. I say simplify and go with less money and a single card. A solid 650w PSU will run you a third of what you had, and still be plenty of power for a single GPU system.
CPU cooler: If you are even thinking about going liquid cooling, go ahead and do it now. Get one of the self contained CPU watercoolers, like a Corsair H50
Yeah, Microcenter, if you have one close watch for sales. When I built my PC microcenter would have saved me $150 on the CPU/Motherboard alone.
Comment