that PSU is way too rich for his budget. here is a $60 seasonic 520 W PSU that will easily handle the GTX 770:
http://www.newegg.com/Product/Product.aspx?Item=N82E16817151094
the GTX 970 will be in the $400-$500 price range. way out of his budget. that MSI card will come out to be like $280 after rebate. even when the GTX 970 does go on sale, which will probably be november the earliest, the GTX 770 will still be selling around $270 and will still be a good value.
$60 for seasonic PSU
$285 for GTX 770
total will be $345
games will run at max settings or very close to max selling at 1080p. some games are not designed as well and don't use resources efficiently. but this card will still kick butt