Im Building My First Computer, And I Have A Few Questions About It?

Im Building my first Computer, and I have got together this build. Im not sure about it though? Need some advice.
Im only 16, so I don’t have a lot of experience.
Mobo – ASRock B75 Pro3-M Motherboard mATX £53.93
cpu – Intel 3rd Generation Core i5-3570K CPU £165.14
ram – Corsair CMZ8GX3M2A1600C9R 8GB (2 x 4 GB) DDR3 Vengeance Memory £46.85
gpu – MSI HD 7850 OC 2048MB GDDR5 PCI-Express Graphics Cards £149.99
hdd – Seagate ST31000524AS 3.5 inch 1TB Hard Drive £56.95
opt. drive – LG GH24NS90.AUAA50B 24x SATA Bare Internal DVD Rewriter £17.26
psu – OCZ OCZ-CXS500W-UK CoreXStream Series 500W Power Supply £32.51
case – Zalman Z11 Plus Midi Tower Case £51.98
OS – Microsoft Windows 7 Home Premium, Full Version (PC DVD), 1 User £69.94
or (os – Microsoft Windows 8 64 bit OEM, WN7-00403, English Version) £67.98
TOTAL £642.56
First of all, will it all work?
Are there any recommendations to which I should change, baring in mind I’d rather not spend much more?
Should I go for Windows 8 or 7. I’ve never used 8, but I feel I should give it try.
Will the case be ok for the build?
If a case says it takes ATX or less, does that include M-ATX
Will the power supply work with it, and will there be much overpower.
Is the graphics card a good one, and worth the money. Or is it overkill?
Are there any other cool cases which work well and arent overpriced?
Can I save any money here?
And thats it I think.

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