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sky, thnxs 4 d heads up, not hearing positive things about MSI from my friends either
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future, 7970 is a much safer bet for the future than a 7850, but out of my budget. So, I'll have to go with the 7850.
@true genius.. I agree that this thread won't be any good for a full rig question. In fact, i made one in the PC Buying Advice section, but didn't get any replies

but i am actually looking to go with your suggestions. Upon realizing that any non MSI, decent motherboard costed a min of 6.5k coupled with a haswell i5 4670 for 15.2k, I decided to go 4 a 3rd gen i5.
i already have 4gb ddr3 1333mhz ram kingston, would be adding another compatible 4gb stick
i have a 500 GB WD Caviar Green, which would have to suffice for now, and I have the other basic components as well. The only thing I need is a PSU good enough for my new config
So, for the CPU+MB+GPU+PSU has to be >40k
btw, are the prices that you quote current, and if so, from where?
P.S. I live in Delhi