So one thing I noticed right off the bat, that power supply is way too low. Even without a video card I think you're going to need more than 150 watts to power a Core i7. Maybe not much more, but 150W just seems too low to me.
Though I will also add, I think an i7 might be overkill for photoshop, and you might be able to get away running an i5. If I remember right Photoshop is ram HUNGRY. 16 gigs is probably enough but consider going to 32. You're on the right idea with an SSD but I think Photoshop scratch folders can murder them (all the writing to them shortens their life). Maybe consider a small like 500 gig HDD to use as the temp/scratch folder for Photoshop.
Maybe one of those guys can chime in with more up to date info on Photoshop, it's been a long time since I was using it regularly.
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