speed over quality = Quicksync
quality over speed = CPU
generally an i3 would be 30% or so slower than the lower end i5s so it shouldn't even be much of an issue either.
to note though, quicksync is still 3times faster than the i7s but the quality is mediocre.
i don't recommend going with a 4GB ram, even if its barely sufficient its gonna end up as an issue later on.
at least go with a 1x4GB 1600mhz so that you can expand later on.
64GB ssds aren't worth it, they're priced at $50~$70 while 128GBs are priced at $70~$100.
you can skip a GPU for later, try out the IGP first if that'll suffice, if you find it lacking you can add a GPU later on.
edit: to note, you'll need slightly more ram if you want to use the IGP, since the system ram and gpu ram is shared on the same ram.
http://pcpartpicker.com/user/kitame/saved/4CaQ