Is this build ok? And can it run modern games 1080p max settings?

[Lotus]

Here's the problem: the i5-4460 can work with an h81 chipset motherboard. The problem is it requires a bios update on the motherboard, and in order to update the bios you need a working CPU. If the bios update isn't done before you get the board, you wont be able to make it work with the parts you have on hand. That's why I always recommend sticking to original haswell CPUs if you get an 80 series motherboard (h81, z87, b85, etc).

[jeserdes]

http://xfxforce.com/en-gb/products/all-previous-psus/pro-series-450w-psu-p1-450s-xxb9Would this be optimal psu for i5 4440 & r9 270?

[Lotus]

The wattage is fine, but it appears to be a group regulated PSU so it's 12V rail isn't really all that stable. This is a great review of it:

http://www.jonnyguru.com/modules.php?name=NDReviews&op=Story4&reid=224

 

You can get away with it, but if you have to pay a price premium for it, I wouldn't bother. The standard budget PSU is the EVGA 500W Bronze unit (500B).

http://www.jonnyguru.com/modules.php?name=NDReviews&op=Story6&reid=351

[jeserdes]

http://pcpartpicker.com/p/k7wPLkWell would this be it?

[Lotus]

Yes, that would be a great system. If you can spring for an R9 280, that would be better, but the R9 270 is still a very capable card. Just don't forget to overclock it. It's very easy with the catalyst control center.

 

You may want a different case as the air flow and cable management options don't seem so great in that one, but none of the components really put out a lot of heat so you should be fine regardless. It's not really a huge deal with those components.