Yesterday i purchased a Sapphire 100352-2L Radeon HD 7950 off of ebay for $230 plus shipping. Im worried that my i3 3220 will bottleneck it. I plan on upgrading the processor and motherboard to a 4th generation in a couple of months. I was going to buy a new 1150 motherboard but i saw the card and had to jump on it right away.
It will but it will still run games just fine. Don't upgrade to the 4th gen since you already have an ivy bridge motherboard. Just go for a 3570k if you want to over clock or 3470 if you don't want to. I plan to get an i5 some time but I'm in no hurry