The argument against an i3 is the need to upgrade to an i5 down the line. It's great for now, no doubt, but a current i5 will outlast it. For me personally, I don't plan to upgrade anything but my GPU until Skylake, and an i3 will probably be struggling with the current games of that time, but my 2500K will still be a VERY viable CPU well into that time frame, if for no other reason than the ability to OC.
I don't have any problems at all with an i3 for a cheap solution to play current games (best buy around, IMO) but beyond that, with future games, an upgrade will almost definitely be necessary.
The ONE caveat to that is that we have NO idea what requirements for games will be in the future, but my guess is that with new consoles coming out at some point in the relatively near future, developers will start to actually make more games with higher requirements because they won't be hamstrung from developing a game for an underpowered console and porting it to an overpowered PC (PC only games are exempt from that, of course, but how many of those are there? lol).
Beyond gaming, an i5 will last longer too, so it's basically a pay now or pay later proposition.