will this pc build work?

Looks mostly good.
Swap the 970 for the 1070 when it releases.
Swap the water cooler with a Kraken x61 if your case supports a 280mm radiator.
What's your storage situation?
Grab a WD Black 2TB and a Samsung 850 Evo 250GB.
750w for 1070 would be a bit overkill, and the capacitors are bad quality on that power supply.
Change it to an XFX XTR series or EVGA G2 series 650w, Still leaves plenty of headroom.
Grab the 1070 when it comes out and you're good to go!
 
Here is the build

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i7-6700K 4.0GHz Quad-Core Processor ($349.99 @ Newegg)
CPU Cooler: Corsair H100i v2 70.7 CFM Liquid CPU Cooler ($94.99 @ Newegg)
Motherboard: Asus Z170-E ATX LGA1151 Motherboard ($87.98 @ Newegg)
Memory: Corsair Vengeance LPX 16GB (2 x 8GB) DDR4-2400 Memory ($49.98 @ Newegg)
Power Supply: EVGA 750W 80+ Bronze Certified Semi-Modular ATX Power Supply ($48.99 @ NCIX US)
Other: Thermaltake Commander MS-I Snow ATX Mid-Tower Computer Case ($39.99)
Other: GTX1070 ($400.00)
Total: $1058.92
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2016-05-26 01:09 EDT-0400

If you are going for skylake OC then quickly grab that ASUS Z170-E motherboard before its price goes up again. It is at its low.
 
You should be able to overclock quite well with those parts. Send back the 970 however, you made a poor choice as the 1070 is launching in two weeks and will have just above titan X performance according to leaked benchmarks. If you can also send back the power supply and grab the EVGA G2 750w.
The bronze power supplies are poor quality.
 


i own the gtx 970 already and plan on upgrading to a gtx 1080 in the near future.
 


Okay, wasn't sure what you meant by just got these in the mail! ^.^