If you are building it for gaming, Id say to nix the whole setup. If you go with an LGA 1150 socket and an 4th generation CPU like a haswell i5, then you'd have way more money to get a decent graphics card. However, if you're building it for editing purposes then I could see why the 6th generation and DDR4 ram would be more beneficial. The only problem that youd have is that a $700 budget is going to be hard to swing with the newest generation of tech. You'll most likely end up with sub par parts from less than fully reputable companies in order to keep it cost effective.