I'm considering going with a 3570k or a 3350p. Basically, I either want to go all out if the integrated graphics and unlocked multiplier are worth the extra ~$40 or bare minimum quad-core if not. It's for a gaming rig for someone I think is unlikely to overclock much.
If the person is not interested in OC'ing, then the i5-3550p is a good choice. The savings can go towards the price of a graphics card. Most games are bound by the GPU than the CPU.
OC'ing also involves buying a heatsink about $30, and generally a more expensive motherboard with the z75 or z77 chip which may cost around $20 - $30 more than a H77 chipset mobo. Therefore, by not overclocking you get a savings of around $90 - $110.