You're massively overpaying for previous generation CPU/Motherboard, which are slower than the newest stuff (Pretty much any 7 or 8th series CPU is faster, and any AMD Ryzen will be faster - AVOID AND NON-RYZEN AMD CPUS!)
Here's 2 example builds, I consider them "About equivalent", but they have different strengths. If you *just* want single thread performance (which both dolphin and fallout 4 prefer - but you'll likely be GPU limited most of the time on fallout4 anyway), go for Intel instead of AMD CPUs.
Similarly, the graphics cards (nvidia 1060 6gb and radeon 580 8gb) are pretty much the same, and can be switched based on which is cheaper wherever you are. Try to avoid the 3gb 1060 though, as it's actually a slower GPU not just less memory, and the 580 8gb has faster memory than the 4gb, so it tends to be a little faster too.
Also, a 1tb SSD likely isn't needed right now - I have a "fast" 512gb ssd for windows & "the current games I'm playing", and a big 3tb "slow" HDD for long-term storage, where performance isn't as important.
Build1:
AMD Ryzen 1600 (slightly slower single thread, 6 cores instead of 4 for the intel one - some games prefer this, some prefer single cores).
The ryzen comes with a stock cooler that isn't too bad, and can probably cope with (small) overclocks too. Not that ryzen overclocks well
AMD Radeon Rx480
16gb ddr4 (not the fastest in the world, it's unlikely you'll get the full 3000mhz speed out of ryzen, but a boost from the "default" 2133 to 2400 or so can make a big difference to ryzen)
https://pcpartpicker.com/list/Pb786X
$1073.29 according to pcpartpicker
Build2:
Intel 7600k (Faster single threaded performance than the ryzen, but only 4 cores instead of 6)
Decent cooler (probably a fair bit of overclocking headroom)
NVidia geforce 1060 6gb
Everything else the same as above
https://pcpartpicker.com/list/nkVwRG
$1112.79 according to pcpartpicker
Both should be faster than the one you linked (better CPU *and* GPU), and noticably cheaper too - what's not to lilke?