Ok, I basically started over:
CPU: Intel Core i5-3450 Ivy Bridge 3.1GHz $200
Mobo: ASUS P8Z77-V LK LGA 1155 Intel Z77 $145
RAM: CORSAIR Vengeance 8GB (2 x 4GB) 240-Pin DDR3 1600 $50
GPU: EVGA 02G-P4-2670-KR GeForce GTX 670 2GB 256-bit GDDR5 PCI Express 3.0 x16 $400
SSD: Intel 520 Series Cherryville SSDSC2CW120A310 2.5" 120GB SATA III $180
HDD: HITACHI Deskstar 7K1000.D 1TB $100
PSU: PC Power and Cooling Silencer Mk II 950W High Performance 80PLUS Silver $150
Also, I included the PSU I had picked out above. And the budget does include the display, speakers, case, optical drive, OS, etc. which I've already dropped $600 on. The reason for the massive PSU is that I'd like to add more RAM, hard drives, and a second GPU later, and my friend for whom I'm building had a bad experience with a PSU and is now a little over-cautious with them.