Will this build be compatible? Any recommendations?

[OldWorld]

Edit: If you guys can recommend me any better components for a similar price (preferably maybe £20 more at most, money's tight), unless the components I have mentioned are good. I don't know much about motherboards for instance, is the one I've mentioned in my desired build below a good one?

Hi guys, I've got a semi-decent gaming computer already, but I've been wanting to upgrade for a couple of years now. Recently got a new job, and with the money I bought myself a GTX 780ti. Having bought this, it's made me want to spend more money and upgrade my PC further.

I've got some questions, but first I'll show my current build, and desired build.

Current build:
EVGA GTX 780ti SC
i5 2550k
8GB DDR3
Gigabyte Z68MA-D2H-B3 Motherboard (I think it's mini ATX?)
Alpine 750W Quiet Silent PC Power Supply
Noctua NH-D14 Heatsink
NZXT Source 210 Mid Tower

Desired build:
EVGA GTX 780ti 3GB SC
i7 4770k
8GB DDR3
ASUS Z87M-PLUS Motherboard
EVGA Super NOVA 850W PC Power Supply - Gold
Noctua NH-D14 Heatsink
NZXT Source 210 Mid Tower

Note that the tower linked above isn't the exact same model, but they look more-or-less identical and I believe they are the exact same size.

My heatsink 'does' fit, believe it or not, at the expensve of obstructing two of the four RAM slots, it's also half an inch away from touching the side of the case.

Something I'm concerned about, if you look at this link, what is that yellow thing that sticks out to the left side of where the processor/heatsink would go? I'm worried my heatsink would get in the way, can the yellow thing be removed?

So all-in-all, would this build be compatible? Would it offer decent performance? Also, does the linked motherboard allow you to enable Intel Turbo Boost from within the BIOS? Would it all fit within a Mid-sized tower?

A huge thanks in advance, if it 'is' compatible I will purchase immediately.

 

[badboyrog2]

''Something I'm concerned about, if you look at this link, what is that yellow thing that sticks out to the left side of where the processor/heatsink would go? I'm worried my heatsink would get in the way, can the yellow thing be removed?''

if we talked about the yellow heatsink look like a mountain...never remove a kind of this thing , its for cooling your power phase mosfet + vrm

 

[OldWorld]

Oh, I didn't realize. Thanks for the reply.

Any help is much appreciated.