I will dump the thermal paste, the one comes with cooler is good enough
I will get a better motherboard like ASRock Extreme 4, better at overclocking
HDD is too slow, get 7200 RPM
Edits after above changes:
I'd take the Cryorig R1 Ultimate. It's more expensive, but it'll cool better. It is very beefy, though, so you have to make sure your case supports it (168.3mm tall) and if you'll have enough clearance for your RAM. The maximum RAM clearance is ~35mm as per Cryorig website. You can check for more reassurance by creating a tester from paper. http://www.cryorig.com/r1-ultimate.php at the end of that page is more info on that.
I will dump the thermal paste, the one comes with cooler is good enough
I will get a better motherboard like ASRock Extreme 4, better at overclocking
HDD is too slow, get 7200 RPM
Edits after above changes: