What performance level do you want to be at? if its BF3 on ultra you need to replace the mobo + proc with a z77 + i5 (or just grab an old i5 for that socket perhaps) another 2gb of ram atleast (id go with 8gb) and a 7950
If your not opposed to putting a few settings on high + turning down AA a bit then I would just pop in a 6970 + 8gb of ram and see where your at in terms of performance
I have an 350w, I am gonna have to change that as well.
I plan on creating a SLI later by changing the motherboard but then i will have to not take a graphic card. And I heard that the gaming that can be done on the onboard graphics of Ivy Bridge are pretty good
do you think it is a better option to upgrade the motherboard with a new processor or getting a graphic's card with my current mobo
You would definitely see a MASSIVE improvement in games with an extra 2gb of ram + a new gpu. Your cpu is still pretty ok by todays standards.
Now it depends on what your preference in graphics are, if you want to play most games on say medium/high settings at 1920 x 1080 then I would just grab a 7750 and call it a day. If replacing your psu is fine, grab a 650-750w and a 7870