I think that's an excellent setup.

You could always spend more, but I doubt you'd get many more things playable.
Granted the sound card isn't too expensive, but it seems like a waste of money given that the MB has built in audio or you can use the video card to output sound via HDMI (if that is an option for you). Other than that, that looks like a fine list of parts. 
It depends on your speakers and how picky you are, but I was unable to get the sound quality I wanted out of onboard audio.
The onboard audio even had an EQ and very good array of other settings.
We're getting into very subjective territory here, but it sounded condensed and monotone to me.
I am picky to the point that I swapped out the mylar tweeters that came with my speakers for silk dome ones so they'd be smoother and less directional.
After installing a Xonar card and tweaking the EQ on the included software, it sounded like I thought it should sound.
It makes no difference if all you're going to play is old games that had speakers with a very limited range anyway (most didn't even have a whizzer cone, let alone tweeters). But for the NAOMI shmups and Steam games, it's worth the extra $30 IMO. I imagine the newer console games would benefit as well, but I do not have them on my cab.
It's not something I'd worry about from the outset, but once everything else is done it is a nice addition to make your experience just a little more perfect.