Pranja,
You have purchased wisely. You can later go up from where you are in the processors, but what you have is quite excellent. You can look at the cost of 2 x E5675 processors (SLBYL sSpec code to search under in eBay). Note in the Intel Ark link about processor wattage (95W max TDP) that your and those faster processors both can use the same heatsinks/fans. And, that they both use the fastest 1333 MHz memory (so you will be running the fastest possible memory on this workstation which is your1333/10600).
One key thing that many do not know.... this is the last generation where it is so easy and cheap to add a second processor.
That video card is quite fast... there are faster but you'll not likely need that or notice a difference.
Your W7Pro COA.... hopefully you can capture via the HP "Restore" partition on the drive via a clean HP restore media capture onto a USB. Not likely... these rarely come with the same HDD they were sent out from HP with. However, make sure to capture the COA this install is linked to (assuming it is not an official HP build). That way you can use that same W7Pro64-bit COA during install from a spare W7Pro64 system builder DVD, and install clean on a SSD. There are utilities that let you capture the COA for use with a later clean install, and you don't want to lose that opportunity. Take a google look at Jelly win coa, free. If you have purchased the W7Pro64 COA legally as a system builder COA you should archive it. If it came legally with your workstation purchase you should archive that also.
There is the one weak link to fix, and even that is not a rush.... you could now (or later) get an Intel 320 series 300GB SSD (SATA 2, which is what your workstation is), and that will be a quantum leap up from your 10K HDD in speed. Keep that 500GB as your documents drive..... probably delete its partition and long-type NTFS reformat it so you start clean. You even might be able to get away with using an Intel 320 Series 160GB SSD as your boot/applications drive, plus the 500 as your documents drive.
Best to your with this very excellent workstation.....
p.s. If you wish to upgrade to USB3 you can do so quite nicely.... look up my posts on the TI "2x2" HP card I have installed in both xw and your ZX00 generation workstation.