Which video card for use with Asus P8z77-i

I'm going to put together a m-itx build with the asus P8z77-i delux motherboard, not planning to overclock, but want the best bang for my buck. Just planning an average build. ie, not high-end.
This board has PCI 3.0, but the new video cards seem very expensive although there are new, budget priced cards wit PCI 3.0, but I assume they are a bit slow.
So I guess the question is, which would be faster, a lower end PCI 3.0 card like a Radeon 7770 or a slightly old PCI 2.0 card?
Or is there any specific card known to perform well with with motherboard?
Let's say price range is $200-$300.

I've read lots in forums where people argue that PCI 3.0 won't see any gain for a long time if ever, and others say it is heaps faster, but is there any solid data yet either way?

(Yes, I know this question is about a build, but it is chiefly about graphics cards in general and the state of PCI 2 and 3...so I presume I am in the right thread)
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More about which video card asus p8z77
  1. No there isn't much of any advantage of PCI 3.0 vs 2.0 unless it is a x4 slot which then is the same bandwidth of 2.0 x8 (can handle most cards then). I would get the 7850 because it performs similar to the 570 but is cheaper. The 570 would fit in your budget but I don't think it is worth the extra money to get it for only a few FPS.

    7850- http://www.newegg.com/Product/Product.aspx?Item=N82E16814102986 (this is the one I would get if it was in stock, if you want to buy one right away then I would get this one http://www.newegg.com/Product/Product.aspx?Item=N82E16814150608 )
    570- http://www.newegg.com/Product/Product.aspx?Item=N82E16814130620
  2. Without going into further details, there's no difference between PCIE 2.0 & 3.0 in terms of GPU performance, the following chart shows PCIE 3.0 cards on different PCIE 3.0/2.0/1.1/1.0 slots & in different modes(x16/x8/x4)

    Like recommended above, HD 7850 will be the best bang for buck, recommend it over the GTX 570 due to low power consumption and low heat.
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