Is this a good setup for price?

Gigabyte GA-Z68X-UD3H-B3 - Socket 1155 - ATX Intel Z68 - 4x DDR3 - USB3.0/FW/SATA-600 Corsair Vengeance - 8GB 1600MHz PC3-12800 DDR3 - 240 pin - 1.5V - CL10 Corsair Vengeance - 8GB 1600MHz PC3-12800 DDR3 - 240 pin - 1.5V - CL10 Hitachi Deskstar 7K1000.B 1TB- Hard Drive Internal - 3.5" - SATA-300 - 7200 Samsung SH-222AB - Disk drive - DVD±RW (±R DL) DVD-RAM - 22x/22x/12x - Serial ATA - internal - Cooler Master - Silent Pro M700 - 700 Watt ATX12V 2.3 Intel Core i5 2500K 3.3GHz 6MB S1155 Quad-core - Includes cooler Altogether it costs me €619.85 to me that seems way too cheap theres something not right but thats the price from the website I used (komplett.ie in case you are wondering) also are all the parts compatible? how would you rate the motherboard? should I upgrade it? its what I consider well under budget Thanks for the help.

Cheers man and is the motherboard sufficient? I added in an asus monitor 22" 1920x1080 for €99 is that good?

Pretty good for the price.

Most £100 22" 1080p monitors are fine for the average user, but for £50 more you could get an IPS.