Telling someone not to bother with Overclocking when they're trying to squeeze a fast PC into a smallish budget is almost mean.
If you don't overclock, the stock heatsink on that chip is fine. If you intend to overclock anyway, the power supply is also fine. Grab yourself a heatsink like the Coolermaster Hyper 212+ or similar tower heatsink (or closed-loop liquid cooling solution like the Kuhler or something from Corsair) and you should be able to coax some more MHz/GHz out of that chip.
But the actual config looks fine. I've had hands on with that particular graphics card and it's a freaking screamer.