Time to upgrade and VR ready

Hello everyone,

Ok so I started to look at my current rig of which certain items are reaching the end of their life. It's got plenty of poke for the likes of Overwatch on 'Ultra' settings but struggles with any settings above 'Medium' in Elite Dangerous which I play using an Oculus Rift CV1. Originally I ran an NVIDIA GeForce GTX 960 but upgraded a few days ago to an NVIDIA GeForce GTX 1080. That's all fine but my CPU and RAM and falling short greatly. My current spec is as follows:

• Windows 10 Pro 64-bit
• 8GB RAM (GeIL EVO Leggera 8GB (2x4GB) DDR3 PC3-17000C11 2133MHz Dual Channel Kit (GEL38GB2133C11DC))
  
• Intel(R) Core(TM) i5-3570K CPU @ 3.40GHz (4 CPUs), ~3.8GHz
• Gigabyte Z77X-D3H Intel Z77 (Socket 1155) DDR3 Motherboard
• Corsair 650watt PSU

I have two choices in front of my when I consider my current setup and those are

• Upgrade the current CPU to an i7 and the RAM to the maximum the board allows which I believe is 32gb using a better brand more suited to gaming.
• Replace the motherboard, CPU and RAM with new kit.

My question at this stage is what is more viable? I have the cash for some new kit totalling around 1k, does anyone have any recommendations about some good replacement kit or upgrades I can make to my current system? Is it even worth upgrading my current motherboard or should I just scrap it and get some new hardware?

That cpu is still more than capable, overclock it and make the ram 16gb and you should be more than fine.

OC your CPU to 4.5+Ghz, you will need a capable cooler like a 212 or an H7.
Get 16GB of fast RAM. Get an SSD if you don't have one.

Good to go for awhile yet.

BTW RAM is stupid expensive right now. IDK what happened it's like double what it was a year ago (or more.)