It depends on what resolution you want to play at. At 1080p you aren't getting ultra settings with the DX11 enhancements, you need at least a GTX 570 for that. If you are playing at a really low resolution like 1280x1024, you might be able to pull off ultra. There is an article here [http://www.tomshardware.com/reviews/crysis-2-directx-11-performance,2983.html] that compares how different graphics cards run Crysis 2 with DX11 at different resolutions. For ultra you want a card that can give you a minimum framerate no lower than 26FPS. That system will definitely get you better quality graphics than the consoles, just not necessarily the ultra settings.
I will say if you are looking for a gaming PC, avoid AMD's Bulldozer FX chips. Their gaming performance is absolutely atrocious compared to similarly priced CPUs as they can't handle single threaded or lightly threaded workloads well. Its predecessor, the Phenom II X4 is actually a better performer in games. If you are looking for a more future proof system though, you're probably going to want to go with intel, the Phenom IIs are starting to show their age, and unless AMD can really improve things with their next set of CPUs they just won't have any viable competition to intel when it comes to a gaming CPU.
