CPU is a bit low-end compared to the GPU, but that's because the GPU is a beast of a card. You will see a dip in CPU dependent games, such as Skyrim or BF3/4, but it's still a dual core at 3.1GHz.
I wouldn't buy it for the Buy It Now price I think, but for $400 it's a steal. GPU, case and PSU are quality components.
You will also need a way to activate Windows 7/provide your own OS, if you missed it. It has an unactivated Windows 7 installed.