What Build Should I do?

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Solution
wait, you're recording your xbox? so then you don't even need a high quality video card, even intel hd4600 integrated graphics would work then.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4690S 3.2GHz Quad-Core Processor ($212.99 @ SuperBiiz)
Motherboard: ASRock H97M PRO4 Micro ATX LGA1150 Motherboard ($74.93 @ SuperBiiz)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($59.99 @ Newegg)
Storage: Hitachi Deskstar 7K2000 2TB 3.5" 7200RPM Internal Hard Drive ($64.99 @ Amazon)
Case: HEC Vigilance MicroATX Mini Tower Case ($18.99 @ SuperBiiz)
Power Supply: SeaSonic 300W 80+ Bronze Certified ATX...
2nd one mate - 60gb SD is too small to he much use ,120gb is fine.
id just do 2 minor changes,full size board - more expandability,slightly bigger PSU - not as good quality as the seasonic but more headroom for the future.
PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4440 3.1GHz Quad-Core Processor ($171.99 @ SuperBiiz)
Motherboard: ASRock H97 Anniversary ATX LGA1150 Motherboard ($66.99 @ SuperBiiz)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($59.99 @ Newegg)
Storage: Crucial MX100 128GB 2.5" Solid State Drive ($59.95 @ SuperBiiz)
Storage: Hitachi Deskstar 7K2000 2TB 3.5" 7200RPM Internal Hard Drive ($64.99 @ Amazon)
Case: Azza SIRIUS ATX Mid Tower Case ($44.99 @ Amazon)
Power Supply: Antec 450W ATX Power Supply ($28.99 @ SuperBiiz)
Total: $497.89
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-02-06 08:51 EST-0500

 
Here is the final build:PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4440 3.1GHz Quad-Core Processor ($171.99 @ SuperBiiz)
Motherboard: ASRock H97 Anniversary ATX LGA1150 Motherboard ($66.99 @ SuperBiiz)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($59.99 @ Newegg)
Storage: Crucial MX100 128GB 2.5" Solid State Drive ($59.95 @ SuperBiiz)
Storage: Hitachi Deskstar 7K2000 2TB 3.5" 7200RPM Internal Hard Drive ($64.99 @ Amazon)
Case: Azza SIRIUS ATX Mid Tower Case ($29.99 @ Newegg)
Power Supply: Antec 450W ATX Power Supply ($28.99 @ SuperBiiz)
Total: $482.89
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-02-06 10:26 EST-0500
 
Hey ParkersYoutube,

If you have a Microcenter near by I'd suggest stopping on in and see what kind of deal they can get you on the CPU/Mobo as a bundle. I just built my parents a build with an A6-7400K+Asus A88XM-A mATX. Total price for both parts (including taxes) was $102.00. I know the i5-4690k+ASROCK Z97 Extreme 4 LGA 1150 Mobo is $279.98(before tax) so I'm sure you'll get a good deal on the one you want. I know not everyone has them nearby but worth looking into for the savings.

Also you could look at the AMD A10-7850K + Asus A88X-PRO ATX board if you have a microcenter nearby. I am not sure how it compares to the i5 you have picked out, but it's only $180+tax. I used it for a while in my build and it was snappy. And it includes an iGPU. It depends on ram more, but you should be fine because I was using an ADATA XPG V2 1600 set just fine with it. Played League of Legends, Starcraft II, and some other games perfectly fine.
 


didn't think you'd go for it, but it would be much more effective for video encoding, and with the bare minimum you can still fit your budget

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Xeon E3-1245 V3 3.4GHz Quad-Core Processor ($270.99 @ SuperBiiz)
Motherboard: ASRock H97M Anniversary Micro ATX LGA1150 Motherboard ($63.99 @ SuperBiiz)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($59.99 @ Newegg)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($39.99 @ Best Buy)
Case: Cougar MG100 MicroATX Mini Tower Case ($23.99 @ SuperBiiz)
Power Supply: Antec Basiq 350W ATX Power Supply ($22.99 @ SuperBiiz)
Total: $481.94
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-02-06 17:30 EST-0500