My opinion:
I5-8600K with an overclock will game exactly as well as a I7-8700K. Good change there.
Unless you must build now, the 9th gen intel processors should ship soon; I might wait for the I5-9600K
GTX1070 is not as capable as GTX1080. If your games are fast action shooters, see if you can't restore the GTX1080.
At least, buy a EVGA card in case you want to use their 90 day trade op option.
On the rest of your build:
Your case has 160mm available for a cooler.
The cryorig h1 universal is 168mm tall, it will not fit.
A equally good alternative that will fit is the noctua NH-D15s which is cheaper at $80.
https://www.newegg.com/Product/Product.aspx?Item=N82E16835608072
A less expensive motherboard will do just as well.
I use a Asrock Z370M pro4 which sells for about $110. There are other less expensive Z370 based motherboards.
https://www.newegg.com/Product/Product.aspx?Item=N82E16813157793&ignorebbr=1&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-PCPartPicker,%20LLC-_-na-_-na-_-na&cm_sp=&AID=10446076&PID=3938566&SID=
I will never again build without a ssd for the "C" drive. It makes everything you do much quicker.
120gb is minimum, it will hold the os and a handful of games.
But, many things default to the "C" drive.
When a SSD nears full, it will lose performance and endurance.
240gb is the recommended minimum.
If you can go 240gb, or 500gb you may never need a hard drive.
You can defer on the hard drive unless you need to store large files such as video's.
It is easy to add a hard drive later.
Samsung EVO is a good choice for performance and reliability.
And, if you need a hard drive, look at WD or hitachi, they are supposed to be more reliable.