yogesh_gamer
A lot of others have chimed in, but I wanted to give it to you straight up: In terms of price/performance: AMD can't be beat. 8 cores (AMD's architecture is different than Intel's, so they are configured different on the silicon chip) for under $200. It's also unlocked by default. With Intel's unlocked processor, you pay a premium for the "k."
More cores give you more performance across the board. True, the Intel Ivy Bridge architecture is superior to AMD's with efficiency and overall performance, but we come to the price issue...an 8350 in most respects performs the same as the i5 for cheaper. For gaming, if you've got a good graphics card, the CPU becomes somewhat less of an issue when you are comparing the AMD part and the Intel i5. I am talking about real-world, not benchmarks on paper.
As far as graphics, go for the 660 Ti (good midrange card). It's got more processing power than the 660.