Will this OCZ 700w Run Fine For this...

It's hard to give an accurate answer when you're giving so little information to work with, but it's most likely going to be plenty of power. However, the OCZ ModXStream Pro 700W is of somewhat questionable quality, so you could probably find a better PSU.
 

Im sorry here is my specs : ASRock 970 Extreme 3 - 16GB Vengeance RAM - Radeon HD XFX 7950 GPU - AMD II x4 945 3.0Ghz ( Im going to OC )
 
lol no.
OCZ has bad reputation regarding PSUs. I don't recommend buying one. Corsair I don't know much about them. I suggest you go for a Cooler Master. :)
 

Cooler Master, as a PSU brand, is significantly worse than OCZ.

Also, with your system, you don't need a 700W PSU. I would suggest something like a Corsair GS 600 or an XFX Core Edition 550W.

Edit: Here's an XFX Core Edition 550W
http://www.scan.co.uk/products/550w-xfx-pro-series-core-edition-p1-550s-ukb9-85-eff-80-plus-bronze-sli-crossfire-eps-12v-fan-atx-v2
 
When it comes to PSU's Cooler master is actually usually worse than OCZ. The majority of good cooler master psu's are the large(1000w+)high end 80+ gold and platinum rated models. Most of their low and midrange units are junk. Corsairs are for the most part good. Seasonic and PC power & cooling are among the best. XFX and Antec are also good brands.
 

Just before i buy this now, this will 100% cope with my overclocking etc and gaming ?
 

Your CPU has a TDP of 125W, your GPU has a TDP of 200W. The rest of the system won't draw much, so with a 550W PSU you'd have a lot of power left for overclocking.