Here's what fellow Tom's have to say about tier IV PSUs.
"Built down to a low price. Not exactly the most stable units ever created. Very basic safety circuitry or even thin gauge wiring used. Not for gaming rigs or overclocking systems of any kind. Avoid unless your budget dictates your choice."
The power supply I put in the build can be used with future upgrades and has tier II specs. Second only to tier I of course.
As for the H110 chipset MoBo, it's fine, unless it's lacking features you want. In the future you could remove the MoBo and put your current CPU into a more pricey Z170 chipset board more capable of overclocking. That would also mean upgrading the CPU to a chip capable of overclocking, and, at that point might as well jump to a better GPU as well. But, these specs should last at least 1-2 years or longer without having to scale graphics terribly low.