I don't perfer either, in a few months i will probally upgrade to a better nvidia card.
then you'd definitely be better off with an i5. the 270x is no slouch in 1080p gaming. i'd strongly recommend you use it for at least till the r9 3xx/gtx 8xx(?) arrives before deciding to buy a better one. or just outright opt for a better card now like the r9 280x/gtx 770 instead of buying the 270x in the first place.
I'm on a pretty tight budget as it is but i could probally consider a gtx 770, from what ive read the difference in fps between the 8320 and i5 is not that significant?
in terms of fps, yes. but the i5 needs lesser power and generates less heat to achive what the 8320 does. but it all boils down to what YOU prefer. you'll be using it and not me. if the price difference in your location is significant enough, i'd pick the cheaper option.