A quick calculation shows that is a horrible rig efficiency. 1.06 $/Mhash ratio (or .94 Mhash/$ ratio)? With declining price, increasing difficulty, you need to become as efficient as possible in your builds, and this is far from it.

As a comparison, back in april I built a 1.7GHash machine, and I spent around $985. Even at 1.73Mhash/$ I still considered it somewhat risky, though it certainly paid off in the end.

Also, be wary of running 8xPCIE cards on a single board, unless you are using risers with power splitters. Even lowly 5770s can pull a lot of power through the board if you use 8 of them, potentially destroying it.