Is this PC good for next-gen games?

Solution
This is a lot better for the same price

PCPartPicker part list: http://pcpartpicker.com/p/3y2nj
Price breakdown by merchant: http://pcpartpicker.com/p/3y2nj/by_merchant/
Benchmarks: http://pcpartpicker.com/p/3y2nj/benchmarks/

CPU: AMD FX-8320 3.5GHz 8-Core Processor ($151.98 @ OutletPC)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ OutletPC)
Motherboard: Gigabyte GA-970A-UD3P ATX AM3+ Motherboard ($79.99 @ Newegg)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1866 Memory ($79.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($54.98 @ OutletPC)
Video Card: Sapphire Radeon R9 280X 3GB Dual-X Video Card ($299.99 @ Newegg)
Power Supply: Antec High Current...

CTurbo

Pizza Monster
Moderator
This is a lot better for the same price

PCPartPicker part list: http://pcpartpicker.com/p/3y2nj
Price breakdown by merchant: http://pcpartpicker.com/p/3y2nj/by_merchant/
Benchmarks: http://pcpartpicker.com/p/3y2nj/benchmarks/

CPU: AMD FX-8320 3.5GHz 8-Core Processor ($151.98 @ OutletPC)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ OutletPC)
Motherboard: Gigabyte GA-970A-UD3P ATX AM3+ Motherboard ($79.99 @ Newegg)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1866 Memory ($79.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($54.98 @ OutletPC)
Video Card: Sapphire Radeon R9 280X 3GB Dual-X Video Card ($299.99 @ Newegg)
Power Supply: Antec High Current Gamer 620W 80+ Bronze Certified Semi-Modular ATX Power Supply ($67.99 @ NCIX US)
Total: $746.90
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-04-24 23:26 EDT-0400)
 
Solution
Similar budget, better performance for less money actually:

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: Intel Core i5-4570 3.2GHz Quad-Core Processor ($189.99 @ Amazon)
Motherboard: ASRock H87M Micro ATX LGA1150 Motherboard ($83.98 @ SuperBiiz)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($68.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($54.98 @ OutletPC)
Video Card: Gigabyte GeForce GTX 760 2GB WINDFORCE Video Card ($239.99 @ NCIX US)
Power Supply: Corsair Builder 750W 80+ Bronze Certified ATX Power Supply ($59.99 @ NCIX US)
Total: $697.92
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-04-24 23:28 EDT-0400)
 

CTurbo

Pizza Monster
Moderator
PCPartPicker part list: http://pcpartpicker.com/p/3y2Bf
Price breakdown by merchant: http://pcpartpicker.com/p/3y2Bf/by_merchant/
Benchmarks: http://pcpartpicker.com/p/3y2Bf/benchmarks/

CPU: Intel Core i5-4570 3.2GHz Quad-Core Processor ($189.99 @ Newegg)
Motherboard: ASRock B85 Pro4 ATX LGA1150 Motherboard ($69.99 @ Newegg)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($68.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($54.98 @ OutletPC)
Video Card: Asus GeForce GTX 770 2GB DirectCU II Video Card ($328.99 @ SuperBiiz)
Power Supply: Antec High Current Gamer 620W 80+ Bronze Certified Semi-Modular ATX Power Supply ($67.99 @ NCIX US)
Total: $780.93
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-04-24 23:33 EDT-0400)