Let's take it one question at a time.
should I wait for Ivy bridge to come out or is there no point in waiting?
If you're the type of person that goes 4-5 years between computers (or upgrading) then I'd say it's worth the couple of month wait. If however this is something you're going to replace two years from now then I see no reason the current Sandy Bridge architecture wouldn't serve you just fine. Keep in mind that Ivy Bridge isn't a new architecture, it's just the die-shrink tick cycle Sandy Bridge. While there will be certain improvements like less power consumption, higher overclock room, PCI-e 3.0, and hardware based random number generation, it's not considered to be a huge jump over the current hardware.
If there is no need to wait please suggest one that will suit my gaming needs and is not over priced 150$~
This is a tough recommendation to make because we don't know exactly what your intentions are with this rig. Do you plan to run SLI or Crossfire in the future (which would require a psu upgrade, keep in mind), how many SATA ports you need, if you plan to implement a RAID array. do you need Quick Sync (video encoding boost), or SRT (ssd caching). Assuming you just want the most basic board that will work with either SB or IB then something like the
AsRock Z68 Pro 3 $111.99 is a basic budget board that will accomplish what you're trying to do. Keep in mind that there are probably better recommendations out there. I would recommend reasearching p67 vs z68, SRT and Quicksync.
As for my case can I just get any gaming mid tower case?
Of course you can. Cases and Monitors tend to be the two parts of any build that end up being the most difficult to decide on, they're both very subjective by nature. With that being said there are definitely different levels of quality for both. I don't know what kind of budget you're working with here, but based on the budget of you're motherboard I'd assume you're looking for a sub-$100 case, and perhaps lower. At $89.99, it's
my opinion that the
CM 692 Advanced II represents the best value at this range. Again, this is subjective and that's just my opinion. If you prefer a more pronounced gaming look you could take a look at the case I'm currently using which offers a side window the
Lancool K62 $84.99. I've been using this case for almost two years now and I love every single aspect about it. It's been virtually dust free, it was a 100% tool-less design, it was easy to work in and it fit my 5870 without having to dremel hard drive cages (never fun). If both of these cases are out of your budget range, then the
Antec Illusion 300 $69.99 and the
Haf 912 $59.99 both represent great value cases that while might not offer the refinement of the previous two, are very solid choices.
And lastly for RAM people have been telling me that the GSKILL ripjaws are really good and I want the best one that will work with my motherboard since I can just buy 1 first and keep buying more later.
I have very low opinions concerning RAM and it's performance effect on typical systems regardless of any form of speed ratings. I'm in the camp that thinks you should just find the cheapest set (from a respectable vendor) off your motherboards Quality Vendor List and run with it. Perhaps someone else could offer a specific set they've had good success with however.
Best of luck, and don't forget research is 90% of the fun of any new build.