Yes. Very much so. I wish I could afford a build like that.
Just for information's sake, there are very few upgrades beyond what's in that build that's anywhere close to affordable. You could upgrade to a 6990, but then you're looking at $600+ for a single GPU. You could also upgrade from the i5 2500k (with that overclock) into the 2011 enthusiast socket, but again, that would be incredibly expensive. I think the cheapest 2011 socket CPU + mobo is around $900.
The only thing that may be an ever so slight upgrade is an i7 2600k. It performs the same as an i5 2500k, but does better with threaded applications like compression, encoding, etc. It would cost an extra $120~.
Otherwise, you'll have the top of the line components hands down in your budget.
EDIT: If you're wondering about what you can upgrade in the future, the first thing you should invest in when you get the money is a good SSD for amazing load / boot times. Maybe a decent sound card if you're really into audio.