I updated it a bit, but it was already quite good.
PCPartPicker part list:
http://pcpartpicker.com/p/fYVVGX
Price breakdown by merchant: http://pcpartpicker.com/p/fYVVGX/by_merchant/
CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor ($239.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ OutletPC)
Motherboard: ASRock Z97 EXTREME6 ATX LGA1150 Motherboard ($134.99 @ Newegg)
Memory: G.Skill Sniper 8GB (2 x 4GB) DDR3-1600 Memory ($74.70 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($52.91 @ OutletPC)
Video Card: Asus Radeon R9 290 4GB DirectCU II Video Card ($379.99 @ NCIX US)
Case: NZXT Phantom (White) ATX Full Tower Case ($79.99 @ Newegg)
Power Supply: XFX 650W 80+ Bronze Certified Semi-Modular ATX Power Supply ($95.99 @ Mwave)
Monitor: Asus VE247H 23.6" Monitor ($139.99 @ Newegg)
Keyboard: Cooler Master Storm QuickFire Rapid Wired Gaming Keyboard ($70.49 @ NCIX US)
Mouse: Razer Naga Hex Wired Laser Mouse ($67.62 @ Amazon)
Total: $1366.64
Prices include shipping, taxes, and discounts when available
The R9 290 has dropped in price so now you can get an aftermarket model with good cooling for less money then a Gtx 780, that's why I would suggest you to go for an R9 290.
The i5 4690k has just been released, not much faster then the i5 4670k but it has better TIM so you can overclock it a bit better and it will run a bit cooler.
Also for the i5 4690k you need an z97 chipset motherboard. I suggested a good Asrock one because they make good quality boards just like on the z87 chipset, and it has the highest price/quality.
The rest of your system is fine.
BTW you will be able to play all games on ultra with this build, so you can get it even cheaper and still get decent performance if you want.