You can save a bit by swapping the i7-4770 to a Xeon E3-1231, pretty much same CPU, except for no integrated graphics.
That motherboard is overpriced.
PSU is overpriced, swapped for one that has enough capacity and is still decent quality.
What will you use the two hard drives for?
Added an SSD.
Unless you want to join a windows domain, there's really no reason to go for the Pro version of windows. Also 8.1 > 7 in my opinion, if you don't like the metro UI, install Classic Shell and you'll never have to see it again.
PCPartPicker part list / Price breakdown by merchant