Sorry sync_nine, but the Corsair H50 has been proven again and again to work no better than a CM Hyper 212+. The Hyper 212+ and several other HS/Fan air coolers outperform it, as do several other self-contained water cooling units. Frostytech's H50 review:
http://www.frostytech.com/articleview.cfm?articleID=2564
Take note of the last sentence on page 5 specifically. And for a comparison of all coolers Frostytech has ever tested, read their most recent review and find the H50 on the charts on pages 4 & 5.
To the OP. You mentioned "your area" in your last post. Where exactly is that? And as gkay asked, from what source(s) do you intend to make your purchase(s)? If we know where you are, where you intend to shop, and your budget, perhaps we can find a better package for you.
As far as the PSU is concerned, a 500W unit (such as the FSP Aurum) should be capable of powering such a system. But, it would likely have to operate well above 50% load capacity (which is where it achieves peak efficiency) while gaming. This would be especially true if you were to OC the CPU and GPU, which could cause it to run at or near it's maximum load. More plainly, while it should (man I hate having to use should) be able to power the system, if you're tempted to or intend to OC such a system, then a wee bit more 12V headroom would be wise.
To expand a bit on that PSU (as well as gkay's suggestion), a 550-600W PSU capable of 40 or more amps of 12V output would be more fitting to your intended build. I stress, this is especially true if overclocking. The FSP Aurum 500W has a maximum 12V output of 36A (432W), which is split evenly between two rails; one of which powers the motherboard, and the other feeds the PCIe power cable for GPU(s). Now despite the PCIe cable having two 6+2 pin PCIe connectors, it is a single feed powered solely by the 2nd, 18A 12V rail, meaning it's maximum output is 216W. A 5850 will commonly draw between 110 and 150W at maximum load. When overclocked to 5870 speeds and above, you can see their power draw numbers climb to the 150 to 200W range. The CPU can do the same, climbing from it's rated 95W TDP at stock speed to as high as 140W or so when overclocked to 4.5GHz.
If you add up the stock numbers and you'll see, a 500W unit works, but it will run above 50% load if both the CPU and GPU are being stressed in a game. Let us also not forget that fans, HDDs, lighting, and other parts also draw a bit of juice from the 12V output. If you add up the OC numbers, you can see how such a PSU's "sweet spot" is left far behind under heavy load. And as is the same with many things in life, stressing anything does generally shorten it's lifespan.