After chopping and changing each component to try and get the price right, this is what i have come up with. If there is something there that you wouldn't recommend or there is a better alternative to something then please say.
I've included a SSD as well, although i have never had any experience with them so i am still deciding whether to keep it, or get rid of it and get a better graphics card. Possibly a Sapphire 7950.
I have no experience with power supplies so can someone check if this one is suitable?
Also if all the components are compatible together and overclock-able at some point when i get better cooling?
Intel Core i5-3570K 3.40GHz (Ivybridge) Socket LGA1155 Processor (77W) - Retail £179.99
MSI HD 7870 Black Knight OC 2048MB GDDR5 PCI-Express Graphics Card £179.99
Samsung 128GB SSD 830 Desktop Series SATA 6Gb/s KIT with Norton Ghost - (MZ-7PC128D/EU) £89.99
Asus P8Z77-M Intel Z77 (Socket 1155) DDR3 Motherboard £85.99
Antec VP550P 550W '80 Plus' Continuous Power Supply £54.98
Western Digital Caviar Blue 500GB SATA 6Gb/s 16MB Cache - OEM (WD5000AAKX) £43.99
BitFenix Outlaw Gaming Case - Black £39.95
GeIL Black Dragon 8GB (2x4GB) DDR3 PC3-12800C11 1600MHz Dual Channel Kit (GD38GB1600C11DC) £23.99
OcUK 24x DVD±RW SATA ReWriter (Black) - OEM £13.99
Total : £725.46
Apologies that i haven't figured out how to do the shopping cart link to the website yet.