I agree with corbeau. I would pick the i3. However, if you plan on future upgrades, I would take the hit on graphics right now and buy the i5.
Totaly agree especialy since AAA game even start to make use of hypertrading.
But its depend on your futur also. If your buying this rig because your a poor student and plan to get something better when you'll be rich, buy the I3 and just trash it later on to buy a top PC. But if your on a budget now and will remain on a budget in a few years. Go with the I5 and cheaper GPU (maybe a used one if you dont fear it) and just upgrade that GPU later on.