I would go with a Z77 build and a mid-range CPU, some ordinary ram, a Crucial m4 for the OS and a Caviar Green or two (if you want raid1) for storage/backup. As far as gfx cards go it depends on your needs, but you could as well go for the best on the market right now, or even a dual card setup. Really depends on what kind of games you want to play and what kind of power drain / heating you want to experience.
tl;dr what do you intend to play, how important is it to have the most powerful stuff as opposed to less energy hungry and heat producing stuff?