Due to the helpful suggestions of people on here I have a revised setup for the new system I will be building. However I am not sure at this point what video card I should get. I was originally going with the Radeon 7970 HD 3gb but I am not sure that it is really necessary to play WoW or most other games I might want to try on ultra settings. Below is my current idea for my system build, minus the video card. Basically I am wondering if anyone knows of a cheaper card that would perform well on WoW on ultra and possibly other games as well.
CPU-Intel i5 3570k 3.4ghz
MB-Asus P8Z77-V LGA 1155
Primary Hard Drive-Crucial 256gb SSD
Secondary Hard Drive-Western Digital 1tb HDD
Ram-Kinsgton Hyperx 16gb (4x4gb) quad channel 1600mhz
Optical Drive-Asus 24x Sata DVD-RW
Case-Cooler Master Elite
CPU FAN-Noctua NH-D14 SE2011
Monitor-Asus 23" 2ms 120hz LCD
Power Supply -Thermaltake 730w