The biggest issue is that CPU. Put some more money towards a better one. It's going to be a performance bottleneck with everything else you've got in there.
How big is your current hard drive? How old? If it's not on its last leg, you can probably just plop that in your new computer for storage. 64GB isn't going to be enough space alone, even if you're just playing CRPG/source engine games.
If you're trying to keep the budget down, you can get 4GB RAM instead of 8. You can buy more later if that is not enough for you.
^ This... and ditch the solid state harddrive for now if you are trying to save money. It's not really something that is required. If you want a solid state harddrive later on when you have money it is a simple installation, same thing with the extra ram.
Definitely fork out a little more or find a better processor. This is actually cheaper than the motherboard+cpu+graphics card you listed, and I'm pretty sure its better in all 3 areas.
Might want to research it a little bit:
http://www.newegg.com/Product/ComboDealDetails.aspx?ItemList=Combo.1466003For 176$
AMD A8-5600K Trinity 3.6GHz (3.9GHz Turbo) Socket FM2 100W Quad-Core Desktop APU (CPU + GPU) with DirectX 11 Graphic AMD Radeon HD 7560D AD560KWOHJBOX
+
GIGABYTE GA-F2A88X-UP4 FM2+ / FM2 AMD A88X (Bolton D4) SATA 6Gb/s USB 3.0 HDMI ATX AMD Motherboard
So you get a processor+gpu(well in this case the processor and gpu are built into one)
as well as a good motherboard all for 176$. Which should leave you plenty of money for 8 gb ram, a terabyte hard drive and a good case+ power source. You can always buy another Graphics card later and use it instead of the built in one in this APU too, incase the GPU in the processor doesn't cut it for graphics intensive programs.
I've never had a cpu/gpu combo built into one, but it has fairly good reviews on new egg... might want to research it a bit more though just to be safe. Another plus about buying a combo deal like this from newegg is you know the stuff is going to be compatible, which makes building the PC that much easier.