Hows my gaming PC?

This is a good $750 gaming build:

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i3-4150 3.5GHz Dual-Core Processor ($111.29 @ NCIX US)
Motherboard: MSI H81M-E33 Micro ATX LGA1150 Motherboard ($44.98 @ Newegg)
Memory: Team Xtreem Dark Series 8GB (2 x 4GB) DDR3-1600 Memory ($72.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($51.98 @ OutletPC)
Video Card: XFX Radeon R9 270X 2GB Double Dissipation Video Card ($159.99 @ Newegg)
Case: Enermax ECA3253-BW ATX Mid Tower Case ($34.99 @ Newegg)
Power Supply: Antec Neo Eco 620W 80+ Certified ATX Power Supply ($39.99 @ Newegg)
Optical Drive: LG GH24NSB0 DVD/CD Writer ($13.99 @ Newegg)
Operating System: Microsoft Windows 8.1 (OEM) (64-bit) ($89.98 @ OutletPC)
Monitor: Asus VX238H-W 23.0" Monitor ($119.99 @ Newegg)
Wireless Network Adapter: Asus PCE-N10 802.11b/g/n PCI-Express x1 Wi-Fi Adapter ($11.99 @ Newegg)
Total: $752.16
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-08-16 21:18 EDT-0400
 
Solution

SummonHydro

Distinguished
Aug 13, 2014
42
0
18,530


Do I really need that processor for games like Payday 2 and LoL? And how long will my CPU last compared to the one you suggested.