Absolutely. Here is a motherboard/CPU/memory combo that I just threw together purely as an example (not as recommendations) just to show that it can be done without putting much thought into it:
P8Z77-V Pro for $209.99 shipped
3570K for $229.99 shipped
G.SKILL Ripjaws X Series 8 GB (2 x 4 GB) DDR3-1866 for $57.99 shipped
I didn't shop around or have any concern about prices. I just picked these 3 because to start with, I would personally want this motherboard and CPU, and the other thing is I own this memory and I love it. hehe So yeah, I put it together in my head after reading your post before I looked up these parts on Newegg. :)
However, I would also want to replace the video card and PSU. My reason for replacing the PSU is for overclocking because I have a feeling this one doesn't have a clean and stable enough power delivery for it. However, the 3570K at stock is already amazing...
Edit: if I were to buy the P8Z77-V Pro and 3570K together at Micro Center, then I'd spend exactly $90 less because the 3570K is going for $189.99, and then when the P8Z77-V Pro is purchased with the 3570K, they drop the price on that motherboard down to $159.99. So buying them together from Newegg costs $439.98 while Micro Center would charge just $349.98.
Edited by TwoCables - 8/7/12 at 5:19am