If your looking for a gaming rig, you should be looking at the AMD A10-5800K hands down. It is cheaper than the 3550K and you can crossfire a Radeon 6670 with the on die 7650D GPU and be over $100 cheaper. That will pay for your hard drive. I built a couple of trinity rigs and for the $, they are pretty darn good.
CPU: AMD A10-5800K Trinity 3.8GHz (4.2GHz Turbo) Socket FM2 100W Quad-Core Desktop APU (CPU + GPU) with DirectX 11 Graphic AMD Radeon HD 7660D AD580KWOHJBOX
http://www.newegg.com/Product/Product.aspx?Item=N82E16819113280 $129
Motherboard: ASRock FM2A85X Extreme4 FM2 AMD A85X (Hudson D4) HDMI SATA 6Gb/s USB 3.0 ATX AMD Motherboard
http://www.newegg.com/Product/Product.aspx?Item=N82E16813157341 $95
Case: COOLER MASTER HAF 912 RC-912-KKN1 Black SECC/ ABS Plastic ATX Mid Tower Computer Case
http://www.newegg.com/Product/Product.aspx?Item=N82E16811119233 $59
Air cooling: COOLER MASTER Hyper 212 Plus RR-B10-212P-G1 "Heatpipe Direct Contact" Long Life Sleeve 120mm CPU Cooler Compatible with Intel 1366/1155/775 and AMD
FM1/FM2/AM3+
http://www.newegg.com/Product/Product.aspx?Item=N82E16835103065 $29
Memory: Crucial Ballistix Sport 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model BLS2KIT4G3D1609DS1S00
http://www.newegg.com/Product/Product.aspx?Item=N82E16820148544 $39
Hard drive: Western Digital WD VelociRaptor WD3000HLHX 300GB 10000 RPM 32MB Cache SATA 6.0Gb/s 3.5" Internal Hard Drive -Bare Drive
http://www.newegg.com/Product/Product.aspx?Item=N82E16822136929 $69
Optical Drive: ASUS 24X DVD Burner - Bulk 24X DVD+R 8X DVD+RW 12X DVD+R DL 24X DVD-R 6X DVD-RW 16X DVD-ROM 48X CD-R 32X CD-RW 48X CD-ROM Black SATA Model DRW-24B1ST/BLK/B/AS - OEM
http://www.newegg.com/Product/Product.aspx?Item=N82E16827135204&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-_-na-_-na-_-na&AID=10446076&PID=4011351&SID=skim3031X597716Xf61bb8e15f160d52a04ab9d620cdd9ff $17
Power supply: COOLER MASTER eXtreme Power Plus RS500-PCARD3-US 500W ATX12V v2.3 Power Supply
http://www.newegg.com/Product/Product.aspx?Item=N82E16817171031 $50
GPU: GIGABYTE GV-R667D3-1GI Radeon HD 6670 1GB 128-bit DDR3 PCI Express 2.1 x16 HDCP Ready Video Card
http://www.newegg.com/Product/Product.aspx?Item=N82E16814125403 $70
Operating system: Microsoft Windows 7 Home Premium SP1 64-bit - OEM
http://www.newegg.com/Product/Product.aspx?Item=N82E16832116986 $99
Total $657
At $700-$750, you will not be able to play ALL games at high settings. It is just the nature of the beast. $700 does not allow for a top tier GPU but this will run most games medium to high.
This easily gets you under $700 with hard drive and Windows7 and is the best bang for the buck out there...... Enjoy.
Edit: Nov 13, 12 12:42am