The better option would probably be the latter one, with the i3, because it has the better gpu and that's more important for gaming. Besides, later on you can always upgrade to an i5. You would only really be held back on cpu intensive games like multiplayer bf4/bf3 and games like crysis 3, other than that, the i3 would perform fine in other games.
In my opinion, better upgrade path and better gpu
Are those the only options available?
The 2nd option. The i3 is better than a 4300, so go for that. Also the 270 is a better performer than the 260x.