Intel® Core™i7-2700k Quad Core (3.50GHz, 8MB Cache) + HD Graphics
I still can't justify the price for this. Unless you're doing video editing, you might as well save cash and get teh 2500K. They overclock to the same speed and hyperthreading doesn't really help games.
16GB KINGSTON HYPER-X GENESIS DUAL-DDR3 1600MHz, X.M.P (4 x 4GB KIT)
16GB is excessive, but I won't complain because I have the same amount. However, it's not worth moving from 1333 to 1600. There is just no noticeable difference.
600W Quiet 80 PLUS Quad Rail PSU + 120mm Case Fan
I worry about PSUs that don't show their brands. 80Plus is no longer a guarantee of quality.
COOLIT ECO II A.L.C ADVANCED LIQUID COOLER
I guess people have their preferences, but liquid cooling just doesn't matter as much with Sandy Bridge chips and the newest generation of GPUs. I have a 2600K running at 4.5GHz on air cooling. It never breaks 60C and produces less than 28dB even under stress testing.