[Build Help]First build - need some feedback on the mobo and power supply

Build Help/Ready:

Have you read the sidebar and rules? (Please do)

Yup

What is your intended use for this build? The more details the better.

Gaming, starting with ARMA III and getting ready for the Oculus Rift (I currently have DK2). I'm weening off of Xbox, so I'll also be using this computer for media streaming like Netflix and HBO Go.

If gaming, what kind of performance are you looking for? (Screen resolution, FPS, game settings)

1080p, decent framerate (60fps). I'd like to play GTAV comfortably.

What is your budget (ballpark is okay)?

$700, but lower would be better.

In what country are you purchasing your parts?

US

Post a draft of your potential build here (specific parts please). Consider formatting your parts list. Don't ask to be spoonfed a build (read the rules!).

PCPartPicker part list / Price breakdown by merchant

Type	Item	Price
CPU	Intel Core i5-4590 3.3GHz Quad-Core Processor	$159.99
Motherboard	ASRock Z97 EXTREME4 ATX LGA1150 Motherboard	$102.98 @ Newegg
Memory	PNY Anarchy 8GB (2 x 4GB) DDR3-1600 Memory	$33.99 @ Newegg
Storage	Sandisk SSD PLUS 120GB 2.5" Solid State Drive	$44.88 @ OutletPC
Storage	Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive	$44.89 @ OutletPC
Video Card	Sapphire Radeon R9 290 4GB Video Card	$199.99 @ Newegg
Case	NZXT S340 (Black/Blue) ATX Mid Tower Case	$59.99 @ Micro Center
Power Supply	SeaSonic S12II 520W 80+ Bronze Certified ATX Power Supply	$53.99 @ SuperBiiz
	Prices include shipping, taxes, rebates, and discounts
	Total (before mail-in rebates)	$720.70
	Mail-in rebates	-$20.00
	Total	$700.70
	Generated by PCPartPicker 2015-11-05 23:20 EST-0500

I started with the ChooseMyPC Build Generator then did research on each part form there, taking into account the recommended specs for Oculus. I'm still not sure on how to gauge the power supply or mobo, aside from figuring out that they're compatible.

Submitted by El_Unico_Nacho Xbox 720 Release Date 2015