Get your Self the latest model of ASUS P5N-E SLI(650i sli nvidia chipset).If you get it from ITwares it will cost you around rs 6000 save the rest for and nvidia Geforce 8800/9800GT.
The latest version of the above board with the latest bios will support your processor as well as penryn quadcore.
I have the above board with the latest bios and believe me it sometimes even beats the 680i in performance.
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Mobo - P5N32-E SLI,P5N-E SLI|GFX - 2x8800GTS,8800GT|Processor - E6550,E6600|PSU - CM EP 600,HX620W|Physics - 2x8600GT
yes. Don't rush for new mobo yet. Even if you buy new mobo, you do need a graphics card for gaming performance as more and more developers are upping their games visual appeal. So, get a graphics card first and then if necessary think of upgrading mobo.
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My first blogspace: http://desiibond.blogspot.com