You are compatible, but I have a few thoughts:
I7-7700K is as good as it gets today for gaming.
But the Graphics card is relatively weak.
If you anticipate upgrading to a GTX1080 or GTX1080ti class card sometime down the road, well. OK.
Today, you would have a better balanced gamer with a $200 i5-7600K with an overclock or a $200 ryzen and
A stronger graphics card like a GTX1060 or GTX1070.
Why two 1tb hard drives? If you are thinking raid forget about it.
I would start with a 250gb Samsung 850 evo for windows and defer on the hard drive until you need the space.
FWIW, I LOVE air coolers H7 is good.
My canned rant on liquid cooling:
------------------------start of rant-------------------
You buy a liquid cooler to be able to extract an extra multiplier or two out of your OC.
How much do you really need?
I do not much like all in one liquid coolers when a good air cooler like a Noctua or phanteks can do the job just as well.
A liquid cooler will be expensive, noisy, less reliable, and will not cool any better
in a well ventilated case.
Liquid cooling is really air cooling, it just puts the heat exchange in a different place.
The orientation of the radiator will cause a problem.
If you orient it to take in cool air from the outside, you will cool the cpu better, but the hot air then circulates inside the case heating up the graphics card and motherboard.
If you orient it to exhaust(which I think is better) , then your cpu cooling will be less effective because it uses pre heated case air.
And... I have read too many tales of woe when a liquid cooler leaks.
google "H100 leak"
I would support an AIO cooler only in a space restricted case.
-----------------------end of rant--------------------------
Your pc will be quieter, more reliable, and will be cooled equally well with a decent air cooler.