i7. i recently upgraded from the 8350 to the 4790k. While the 8350 seemed to handle normal tasks in windows extremely well, for gaming +multitasking, the i7 cant be beat. NOTE - this is not to say that the 8350 wasnt up to the task, because it was. I never have regretted buying in... back in 2012.
If money is a concern, still go with the i7. invest in the CPU and motherboard now, upgrade your RAM and gpu later. x86 really doesnt have much room left to grow, so getting the best now is the way to go. GPU still have a lot of headroom to grow, so getting a decent one now, and upgrading to the next great thing a year from now will be the best investment.