For my first (gaming) build, I chose the the i3 2120 because I am waiting for Ivy Bridge. I am also considering about purchasing the HD 7970. Will the processor bottleneck the GPU? Thanks for replies.
Yes...one thing will always bottleneck another. Eventually if you keep adding load, either your GPU or CPU will reach is limits. Theoretically, there is ALWAYS a bottleneck in any computer.
Depending on your expectations and software, your chances of seeing this bottleneck may vary.