I'm more than happy with my FX-8320. It renders and plays games beautiful, but the best part is that it costs nearly half of an i7 and it's unlocked, you don't have to pay more to overclock like you do with intel processors.
If you do video rendering for a living, go with the i7. It will save you time in the long run.
If you can afford to wait a little bit longer for the rendering, get an FX. Gaming performance is the same as it mostly depends on the GPU these days anyway, plus it has 8 physical cores which will no doubt come in handy when AMD release their Mantle API. It's the same as 3Dfx Glide but with CPU support in mind as well.