Your system is very high configuration, and you can easily mine with this GPU. But the problem is with one GPU you can't mine more coins, and of course, your electricity bill will be very expensive and if you bought this system for your personal use then don't mine because your system will die very soon. I am also using almost same configuration system, but mine is 3.6ghz and rx580. I am using it to do my animated work not mining any coin. Finally it is up to you.
The most vital components that can fail are the motherboard and the hard drive. I can live with the GPU or the CPU failing, since they are replaceable. The hard drive could fail too, but I really should invest in an external drive too. Most of the stuff in my music library was purchased from the itunes store, so that is retrievable. However, there is some stuff that I ripped from other people's CDs and downloaded for free that would be difficult to replace.
Could heavy mining contribute to an early motherboard failure?
Since I do not game nor do I do video editing, I feel the GTX 1070 is probably going to be an extravagance if I do not use it at least part time to mine.
I also am pretty familiar with monitoring the temperature of my CPU and GPU since I used to use both rather heavily when I was doing Boinc in 2012 - 2014. If the mining is causing the temperature to rise too much, even after an occasional once over with the canned air, I will abort mission. Also, if I find the sound from my GPU fan is driving me crazy, I will abort mission.