Upgrading - $500 budget
 

Hello. I would like to upgrade my CPU/motherboard/memory and I'm guessing will need new power supply as well, on a budget of $400-$500 give or take. I would like to upgrade video card but due to budget at the moment, will be keeping video card for now which I know is not that good, but want to upgrade that later so hoping I can pick up other decent parts that work with what I have now and something better in the future.
I'm replacing an Asus M3A and Athlon 64 X2 4400+ 2.3GHz.
Keeping: Radeon HD 5670 1 GB, WD Blue 500 GB, Rosewill Challenger ATX mid tower, Win 7 64 bit
Don't know: Antec Basiq 500W PSU

Asus still good? I'd like to stay with them on motherboard as I had good customer service with issue with current board but that was long time ago.
Would this be good or not leave enough to stay on budget? Intel Core i5-3350P Ivy Bridge 3.1GHz (3.3GHz Turbo) LGA 1155 69W Quad-Core Desktop Processor BX80637i53350P - Newegg.com

Your PSU may or may not be sufficient for a quad-core processor - it only has a 4 pin CPU plug and most new boards have an 8 pin socket. It may or may not run well using only 4 pins. It certainly has enough power for that video card and it's a pretty reliable unit.

That's a good CPU. I'd match it up with an Asus P8Z77-V LK motherboard and a 2x4gb kit of Corsair Vengeance DDR3-1600 low profile ram. This leaves enough in your budget to go ahead and get a new PSU. I'd take advantage of this and get a modular unit for better cable management, and a Seasonic-built unit is the best.

SeaSonic M12II 650 SS-650AM 650W ATX12V / EPS12V SLI Ready 80 PLUS BRONZE Certified Modular Active PFC Semi-modular Power Supply - Newegg.com

ASUS P8Z77-V LK ATX Intel Motherboard with UEFI BIOS - Newegg.com

CORSAIR Vengeance 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model CML8GX3M2A1600C9R - Newegg.com

Great - thanks for the help. Good to hear from you again and glad you are still doing this. Y'all have given me lots of good advice over the years