Re: Is this processor compatible with this motherboard?
Depends on if you want an upgrade path or not. If you plan on keeping the CPU for say, 5 years, then just grab the AMD. If you think you'll have a job or get some Christmas/birthday money or whatever then get the i5 because later this year those 3770ks will go for around 200 bucks or less. Don't forget, the i5 also will have resell value so you can sell it, get some of your money back and get the better CPU in the long run. Either choice is good. If you had a bigger budget and it was a case of getting the 3570k or the 8350 then I would say the 3570k hands down.
Just as a comparison, first gen Core i5 CPUs without an overclock still can max any game with a high end GPU. (First gen being i5 750, second gen i5 2500k, third being the 3570k)
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