i3-530 on ebay (~$70) + s1156 board from ebay (~$70) + decent HSF (~$25) + OC to 4GHz = cheap and better performance than any comparably priced current CPUs except possibly an overclocked AMD in heavily multithreaded games, but you'll take a hit in those that rely on solid single threaded performance.
Shutting down OCing in the low end chips for SB and IB has meant that the clarkdale i3s have been the best budget gaming CPU for like 3 years, and likely will continue to reign as king until Haswell or until AMD produces a CPU with significantly better single threaded performance.
Not that the i3-530 isn't a great CPU, but going the LGA1156 route will severely hamper the future upgrade plans. If I understand the OP correctly, this current build is just a stop gap for a year until an I5-3770 can be purchased.
Personally, I would go with a G630 ($65) or G880 ($75), and put the saved cash towards the GPU or future upgrades.
Of course there is the
Ivy Bridge based G2120 that can be had for under a hundred.
IIRC, these bench very closely to their I3 counterparts, for much less. I highly recommend you look at some benchmarks and see if the i3 is worth it over the Pentiums (they are not Celerons technically, but I understand why we call them that).
Remember, this CPU is just a stop gap for a year or so, and I assume the less he spends, the quicker he can upgrade to the 3770.