Thanks itzdanielp for the quick response. as per my research both the mother boards will only go upto 1333 Mhz. Have i missed something?
Everything looks good.
My only suggestion would be to go with 1600MHz RAM, as it seems to be the sweet spot for Sandy Bridge processors, and you are only looking at around a $5 difference.
Also, for the i5 setup, a small(ish) SSD, maybe 120GB to install the OS and commonly used programs on to, will give you a huge performance boost. But that's just an idea.