I am going to building a new computer and looking to spend about 650 and here is what I came up with.
Intel Core i3-3220 3.3GHz Dual-Core Processor
ASRock B75M-DGS Micro ATX LGA1155 Motherboard
G.Skill Value Series 8GB (2 x 4GB) DDR3-1333 Memory
Seagate Barracuda 500GB 3.5" 7200RPM Internal Hard Drive
PowerColor Radeon HD 7850 2GB Video Card
Cooler Master Elite 431 Plus (Black) ATX Mid Tower Case
XFX ProSeries 450W 80 PLUS Bronze Certified ATX12V / EPS12V Power Supply
Microsoft Windows 7 Home Premium SP1 (64-bit)
I'd say if possible save up and get a better system. Preferrably an i7 cpu, a ssd and a bigger psu.
If you're gonna do light gaming or no gaming then the specs u listed are fine.
I say that because the way I see it, if you're gonna spend money on a pc u want it to last and be able to play your games for at least a few years so you aren't forced to upgrade or be stuck playing on lower settings as games get more demanding.
Again, I'm not sure if u plan on playing games on that pc or not. I assume so.
I recommend saving up for better parts (quad core over a dual core).
I too bought the best bang for the buck but a year later wasn't happy with the performance and ended up pretty much buying new parts again. Instead I should have paid more for the better parts to begin with.
While c0rnel has some good bits please don't follow the i7 route as that is just not sound advice. The i5 3570k is its equal in gaming and everyday performance and much cheaper.
As for your build the i3 is honestly not terrible but if you can stretch your budget to the 3570k do it as it is so much better. Also I just don't like Seagate overall so I would suggest going with a WD at least a Blue but if you can afford it go for the WD Black.
Finally, do go for the SSD as you can find a 128gb for near $70 and it will just make your new build amazingly quick!
Don't, under any circumstances, get an i7 like suggested in the above post for gaming. It's an absolute waste. If you were to bump up your CPU, you should be looking at a 3570k. And while an SSD is certainly nice, it's a luxury and you shouldn't sacrifice anything else in your build for one.
But anyway, of course you can always save up more to get more, but that has to end somewhere. For your budget I'd say you've got a good build on your hands, though I'm not sure how reputable PowerColor are these days considering I hear very little about them.