The 1070 should cost around 8500-9000 there. Not a good time too get a gpu.
That cpu cooler won't be able to cool the 8700k efficiently.
If you want to lower the cost but also want to play in 144hz, downgrade the cpu to a 8600k and get a cryorig h5, Scythe Mugen 5 cooler.
A cheaper mobo like the Asus tuf mark pro or asrock extreme 4 or gigabyte aorus gaming 5 or msi sli plus would also do.
A 650w psu is more than enough.
Get the Nvidia ampere 1070 successor when it releases in april/may or look for a used 980 or r9 fury.