This is the best gaming performance for $500:
PCPartPicker part list:
http://pcpartpicker.com/p/GZ3pMp
Price breakdown by merchant: http://pcpartpicker.com/p/GZ3pMp/by_merchant/
CPU: Intel Core i3-4150 3.5GHz Dual-Core Processor ($104.99 @ SuperBiiz)
Motherboard: ASRock H97 Anniversary ATX LGA1150 Motherboard ($71.99 @ SuperBiiz)
Memory: Mushkin Silverline 8GB (2 x 4GB) DDR3-1600 Memory ($59.99 @ Newegg)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($49.99 @ Best Buy)
Video Card: XFX Radeon R7 265 1GB Core Edition Video Card ($131.98 @ Newegg)
Case: Corsair SPEC-01 RED ATX Mid Tower Case ($44.98 @ NCIX US)
Power Supply: EVGA 500W 80+ Bronze Certified ATX Power Supply ($41.99 @ SuperBiiz)
Total: $505.91
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-02-17 22:11 EST-0500