1) Ivy Bridge is perfectly fine at 80-90c peaks. TJmax is 105c. And I seriously doubt it gets anywhere near that during gaming at 4.6ghz, H80 is perfectly viable for cooling it.
2) What does Home Premium have to do with RAM? It supports up to 16gb, that's how much he has.
3) You don't simply add video memory to system memory, they work seperately and do different things.
4) No money was wasted.
The only questionable things in that build is the PSU and SSD.