Should I get this or this?

http://pcpartpicker.com/p/QYqn8d
PCPartPicker part list: http://pcpartpicker.com/p/QYqn8d
Price breakdown by merchant: http://pcpartpicker.com/p/QYqn8d/by_merchant/

CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor ($239.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ OutletPC)
Motherboard: MSI Z97-GAMING 5 ATX LGA1150 Motherboard ($147.99 @ Newegg)
Memory: G.Skill Trident X Series 8GB (2 x 4GB) DDR3-2400 Memory ($72.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($54.99 @ Newegg)
Video Card: MSI GeForce GTX 770 2GB TWIN FROZR Video Card ($319.99 @ NCIX US)
Case: Corsair 300R ATX Mid Tower Case ($59.99 @ Micro Center)
Power Supply: Corsair Professional 750W 80+ Gold Certified Semi-Modular ATX Power Supply ($89.99 @ Newegg)
Total: $999.91
Prices include shipping, taxes, and discounts when available
 
I'd honestly go with option 1, assuming you plan to replace that Pentium eventually. Overclocked it'll hold up pretty well for the moment, and since all the other parts in build 1 are higher quality, it'll last a lot longer when you eventually replace the Pentium.