Really? Gains from a faster CPU than an old i5 are minimal: http://www.computerbase.de/2015-08/radeon-300-im-test-alle-amd-grafikkarten-von-r7-360-bis-r9-390x-im-vergleich/4/#diagramm-assassins-creed-unity-intel-core-i5-2500k

That money is much better invested in the GPU. Additionally DX12-games will unburden the CPU a bit, the GPU will stay the main bottleneck in PC-gaming.

And ditching the massive performance boost of a SSD (every time you use the system) for a bit more CPU-power? I'm speechless!

Seems quite a good build. Personally I still think an SSHD is a better investment now then a HDD+SSD combo.
As for the PSU, gold rated might be a bit overkill. Personally I work with a bronze rated (budget system) PSU, but silver might do the trick for you.

Hmm, this all sounds pretty similar to me don't you think Captain?

I'd personally get an air cooler, maybe a lower cost PSU, and more RAM, but that's just me. Aside from that it's pretty much the same as my build (though I went for a 2TB HDD) so, hope you enjoy it! We're both in the same boat with this so I'm sure it'll go fine. Also, your monitor looks a bit, well, rubbish so I'd look for a better one. OLED would be preferable. 

Nice build.

Don't listen to those telling you to wait for newer graphics cards. The most optimistic believe that Nvidia will launch Pascal by Q1 2016 so they are still far away.

If you prefer a quiet PC, I'd look for the Fractal Design R5. It's a great and quiet case
http://www.newegg.com/Product/Product.aspx?Item=N82E16811352048 (10$ more for the version with a window)

Also, and last, I'm quite sure that you've already looked it but that monitor has a TN panel. Unless you're used to displays with that high refresh rate, I'd honestly go for a monitor with an IPS panel for better colors and the same 1000:1 real contrast ratio or an VA panel for slightly better colors but much improved contrast.

4690k is enough for Dolphin. Dolphin doesn't and won't ever use more than three threads. That means you even have one extra core left for multitasking with an i5, and since it is overclockable core speed is not an issue. My 4690k runs any game at full speed on Dolphin and any game that can be run at full speed on PCSX2.

In that case make sure you overclock. You should be able to get 4-4.2GHZ with the stock cooler (I get that and the CPU never runs aboves 75C.) Devils Canyon runs cool when over clocked. 4GHZ on an i5 4690k will let you run the most demanding Wii games at full speed: Metroid Prime 3, The Last Story, Xenoblade, etc etc. Stock speeds would probably have trouble keeping up with these games (but will run other games well.)

Nope, always go for a better GPU if your CPU is enough. The 4690k will last until a few years after the next console generation, and could be upgraded cheaply to an i7 if games require more than 4 threads then (which seems unlikely.) There is no foreseeable huge progress in CPUs in the near future. Just a bunch of incremental ones.

SSD's are quite amazing. Load times are essentially a non-issue with them, especially if you raid multiple. Any new build that isn't a budget build should have one.

Nice build for a 1st timer.

Not for pc gaming though. Its not worth the price.

great system! I would use a psu with more wattage just to be future proof, but that's because i'm lazy too open my case and change the cables.