Also slightly over your budget:
PCPartPicker part list:
http://pcpartpicker.com/p/3amqP
Price breakdown by merchant: http://pcpartpicker.com/p/3amqP/by_merchant/
Benchmarks: http://pcpartpicker.com/p/3amqP/benchmarks/
CPU: Intel Xeon E3-1230 V3 3.3GHz Quad-Core Processor ($244.68 @ SuperBiiz)
Motherboard: ASRock H87 Pro4 ATX LGA1150 Motherboard ($93.98 @ SuperBiiz)
Memory: G.Skill Sniper Series 8GB (2 x 4GB) DDR3-1866 Memory ($77.40 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($54.99 @ NCIX US)
Video Card: HIS Radeon R9 270X 2GB Video Card ($219.99 @ Newegg)
Case: Silverstone RL01B-W-USB 3.0 (Black) ATX Mid Tower Case ($34.99 @ Newegg)
Power Supply: EVGA 600B 600W 80+ Bronze Certified ATX Power Supply ($44.99 @ NCIX US)
Total: $771.02
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-03-15 15:36 EDT-0400)
I agree with animal's build. However I feel that the GPU was a little too weak - personally I'd sacrifice CPU overclocking for a better GPU. As such, I switched the board to a cheaper H series and the CPU to a Xeon 1230v3 (all the performance of an i7 4770), and the GPU to a better R9 270x. The case is also quite a lot cheaper.