I'm just repeating what many others have already said, but for this setup you really don't need a liquid cooler. A simple air cooler would more than suffice and would save you like $100-$120. Additionally, it looks like you're paying a premium for an SFX power supply when an ATX power supply would fit. SFX power supplies are super cool in that they can pack so much power in a tiny size. But you wouldn't benefit from that in this case.

After changing the above, perhaps you could then fit a decent GPU into your budget.