I'm Technologically Retarded and Threw This Together. Is there anything I can improve?

[Gilfun]

Here's a link if you'd rather see the components:
PCPartPicker part list: http://pcpartpicker.com/p/xxwJ23

Otherwise, here's a list:
CPU: Intel Core i7-4790K 4.0GHz Quad-Core Processor
Motherboard: MSI Z97-G45 Gaming ATX LGA1150 Motherboard
Memory: G.Skill Ripjaws X Series 16GB (2 x 8GB) DDR3-1600 Memory
Storage: Seagate Surveillance HDD 1TB 3.5" 5400RPM Internal Hard Drive
Video Card: EVGA GeForce GTX 970 4GB Superclocked ACX 2.0 Video Card
Case: NZXT Phantom (Black/Green) ATX Full Tower Case
Power Supply: Corsair Professional 650W 80+ Gold Certified Semi-Modular ATX Power Supply
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer
Operating System: Microsoft Windows 8.1 (OEM) (64-bit)

Is everything I'm going to buy compatible? Are there any problems with it, like bottlenecking? Also, what is an OEM, and does it matter that I'm buying a Windows OEM?
I want to build something that will last me a long time.
By the way, what's the best looking monitor you can get for <$200?

 

[dark_globe]

SSD is a must in this system (samsung , crucial) , ideally at least 250/256gb.
you don´t want your operating system to run on 5400rpm mechanical hard drive .
you can save some money and replace i7 by an i5 4690K if gaming is your main concern.
OEM means your operating system is bound by the current hardware ,
you should consider pay a little extra for the retail version ,
which you can use in any machine you want (one at the time of course).

 

[Gilfun]

SSD is a must in this system (samsung , crucial) , ideally at least 250/256gb.
you don´t want your operating system to run on 5400rpm mechanical hard drive .
you can save some money and replace i7 by an i5 4690K if gaming is your main concern.
OEM means your operating system is bound by the current hardware ,
you should consider pay a little extra for the retail version ,
which you can use in any machine you want (one at the time of course).

Thanks! So if the OS is running off the SSD, and I'm playing Fallout for instance, do I have to move Fallout to the SSD to take advantage of the faster speed? And about the processor, would it be worth it to get the i5 in the long run, or the i7? I don't plan to upgrade again, ever. Or at least for as long as I can. Just to confirm, this computer I'm about to build would be able to run most games on high settings right? (Games like Saints Row 3, Metro Last Light, Bioshock Infinite, Payday, etc) And how's the compability? Thanks for posting btw!

 

[dark_globe]

right now (and in the near future) the i5 4690K and 2x4gb is all you need for gaming .
but if you don´t want to upgrade ever , then i7 is worth the money in the long run .
however the first thing that will age in your system will be your graphics card (quaranteed) ,
so you will have to upgrade your system anyway at some point
if you will want to play newer and newer games at high/ultra presets .

 

[Gilfun]

right now (and in the near future) the i5 4690K and 2x4gb is all you need for gaming .
but if you don´t want to upgrade ever , then i7 is worth the money in the long run .
however the first thing that will age in your system will be your graphics card (quaranteed) ,
so you will have to upgrade your system anyway at some point
if you will want to play newer and newer games at high/ultra presets .

Blegh, I guess. Thanks for helping me out.