First PC build, Vive machine!

###Build Help/Ready:

What is your intended use for this build? The more details the better.

This is intended to be a gaming/Vive PC

If gaming, what kind of performance are you looking for? (Screen resolution, framerate, game settings)

Ideally running games on max settings, though I imagine my requirements will likely be set by the min specs for the Vive!

What is your budget (ballpark is okay)?

$1000 - $1500 NZD ($720 - $1080 USD)

In what country are you purchasing your parts?

New Zealand

Post a draft of your potential build here (specific parts please). Consider formatting your parts list. Don't ask to be spoonfed a build (read the rules!).

PCPartPicker part list / Price breakdown by merchant

Type	Item	Price
CPU	Intel Core i7-7700 3.6GHz Quad-Core Processor	$308.83 @ SuperBiiz
Motherboard	Asus STRIX H270F GAMING ATX LGA1151 Motherboard	$139.00 @ B&H
Memory	G.Skill Ripjaws 4 series 16GB (2 x 8GB) DDR4-2400 Memory	$89.99 @ Newegg
Storage	ADATA Premier SP550 240GB 2.5" Solid State Drive	$73.99 @ Newegg
Video Card	Gigabyte GeForce GTX 1070 8GB Windforce OC Video Card	$369.99 @ Newegg
Power Supply	Cooler Master 550W 80+ Gold Certified Fully-Modular ATX Power Supply	$109.99 @ Newegg
Prices include shipping, taxes, rebates, and discounts
Total	$1091.79
Generated by PCPartPicker 2017-02-16 22:46 EST-0500

Provide any additional details you wish below.

I am intending to cannibalise a few parts from my old PC for this bad boy. Unfortunately, the power supply lacks the correct number of PCI Pin Express power connectors, so will have to upgrade per above.

I currently have a CPU cooler that I hope is sufficient https://www.amazon.com/Intel-E97379-001-Connector-Aluminum-Heatsink/dp/B00XD041DQ

I also have a standard cooling fan (came stock with the PC) which I imagine is sufficient, as I don't intend to overclock at all.

This is my first time building my own PC, so if anything in this build is incompatible, has a cheaper counterpart, or just outright doesn't make sense, feel free to rain down a fiery vengeance on me in the comments below!

Thanks for the help!

EDIT: Forgot to include the 1TB HDD I'll be bringing over from my old PC, its a st1000dm003-1ch162 ata device https://www.newegg.com/Product/Product.aspx?Item=N82E16822148840

EDIT 2: Changed motherboard (can now take 2400 ram type), stepped down SSD from 250GB to 120GB to maintain overall price, as it will be purely for my OS.

EDIT 3: Switched currency to USD, swapped out the AMD 480 for a GTX 1070, upgraded pSU, upgraded SSD to 240GB storage.