I made a little search about Sandybridge Celeron's gaming power and I found that its very powerful for its price.
An xbitlabs review that I found http://www.xbitlabs.com/articles/cpu/display/celeron-g5... the reviewer said:
"Sandy Bridge microarchitecture has always performed very well in 3D games. And today is no exception. Unlike their predecessors, the new Celeron processors can deliver much higher fps rate. Moreover, the difference between the Celeron and Pentium processors doesn’t seem that significant at all, so low-cost Celeron G540 or Celeron G530 processors may be a good option for inexpensive gaming systems after all."
And with numbers like this:
I think its safe to say that you will not see a performance hit from cpu on 2nd suggestion.