New PC Build (I've never done this before)

[--BulletMagnet--]

http://pcpartpicker.com/p/v9DkHx

I have a friend that will be donating a PSU.

I've been dying to build a PC for the first time now that I finally have the money. I mostly took parts from a prebuilt Newegg special a few months ago as I wasn't sure where to start, but this rig would fit my budget and seems like it would be capable for what I'm trying to get. My end goal is to run Skyrim on *mostly* ultra settings (shadows and AA turned down) at 50-60 FPS.

I basically want to know a few things:

1. Are all of these parts compatible? I know enough about parts to choose the specs I want, but I'm unsure of how to choose parts that will work in perfect harmony. Again, this was mostly built from a Newegg preset, so I'm guessing it will be fine.
2. Is this ALL I'll need to put the PC together? I'd like to know any possible extra things I'll need to buy to assemble it. I know I'll need thermal paste, but I'd like to know of anything else.
3. I'd also love general suggestions. I've debated 7850 vs. a GTX 750Ti for a long time, but it seems the 7850 would be a better deal for the money.
4. Is building a PC as easy as folks say? As the subject says, I've never done this before, and I'm a bit nervous about screwing something up. I also don't want to spend days working on it. Any volunteers to Skype me through it?