Video Editing & Encoding Rig in 90k! (No gaming)

Intel Core i5-3550 Processor (3.3GHz)
ASUS P8Z77-V Motherboard
Gskill Sinper DDR3 8 GB (2 x 4 GB) PC RAM (1600 MHz)
Asus Radeon 7870 Direct CUII 2 GB DDR5 Graphics Card
Corsair 500CX V2 (500Watt Power Supply)
Corsair Carbide 300R Cabinet
WD Caviar Blue 500 GB HDD Internal Hard Disk
SEAGATE GOFLEX ULTRAPORTABLE 500 GB External Hard Disk
Samsung 21.5 inch LED - S22B370H Monitor
Philips SHM7410 Headset
Logitech MK200 USB 2.0 Keyboard & Mouse Combo
LG DVD Writer

How good is this config?