Thanks for the best solution...
VR is pretty new... and it need some muscle under the hood to go well... While the 8350 can technically meet the min specs, it's really not beefy enough to make it good... Your 970 is also min specs, so I think you would have a bad time...
On to more positive things, it's a really great time to update with Ryzen... They offer some pretty competitive prices verses performance, even though it is a new chip as well... we I building a system I would heavily consider a Ryzen 5 system for the cost verses performance. Pairing it with a decent MB and perhaps as Lutfij suggested, upgrading your PSU would build you a solid system. You'd need new Ram as well, so it would be pretty much a total overhaul... But you'd have a system that is really solid for not a lot...
The only reason I suggest this is that I was running a 8350 with 2 7850's and it was pretty good. I could still run any game these days, but I was increasingly having to run them at lower settings... Also, it seemed like I was always having to tinker with the system to make it run well. My OC was a problem form time to time and the crossfire was always an issue to make it work right...
Now I spent some money granted, but I built a i7 6700k system with a Asus ROG board and a gtx 1080 and now I run everything at max settings and everything just pretty much works like a charm. Yes, I have to tinker with OC from time to time, but I'm not getting BSOD's and other craziness that I was with the old system...
If you can swing some upgrades, you're due to build a new system. Your's can still game and such, but you'll see a huge difference if you upgrade, whether you go intel or amd...
Adam