Building new system, need help

It's finally time to upgrade my system. I've been out of the loop for several years so I'm not sure what's good but I did some brief research and here's what I came up with:

m/b: Biostar A770E3 AM3
cpu: Athlon II X4 620
ram: 2x 4gb DDR3 1333
hd: Seagate Barracuda 1tb 5900rpm
video: Geforce 9800GT 512mb DDR3 PCI-e 2.0

This system would be used mostly for software development (mainly running the eclipse ide, and running some vmware images), but I also want to be able to play games. Can this system handle the latest games? Should I be concerned that the video card doesn't support DX11? Or should I get something better, maybe the HD 5750?

You will want a high end GTS or a GTX NVidia if you want to play the latest games. I personally don't use ATI due to conflicts in the past so those are what I recommend for GPX cards. Now it would also be nice to know what PSU you plan on running (Anything 600 watts or higher will run that setup. 800+ if you want SLI or Crossfire), you CPU fan (default or 3rd party), etc.