Yeah you're really over paying for some of this stuff.
You don't need an i7 for gaming. The 4690k will not have troubles.
You're paying almost $200 for that PSU. You can easily get a 1000w for much cheaper.
You could "get away" with what you mention, but it's not going to max games. The 295x2 will not have trouble maxing games, and even if the game doesn't support crossfire, a single 290x is going to outerperform the 970. PCPartPicker part list / Price breakdown by merchant