I would take the AM3, though I'd make a few adjustments first.
First, are you planning to overclock? If so, drop the 965 and take a 955, since the price difference isn't nearly worth what you're paying for. If not, I recommend you seriously reconsider this decision.
Second, and I know it's painful, take a board that uses DDR3. It adds to the overall expense but if you plan on keeping the system for a long time this will just end up making you buy a new motherboard with DDR3 later, as well as the memory. As for the board, try to get the Gigabyte 790X-UD4P (DDR3 version) or the ASUS M4A79XTD EVO (I believe that's the name). They're great boards with good OCing, and they're not too expensive either. I assume you'll be getting a GPU (unless you have one already) so the loss of onboard graphics shouldn't be an issue.
Also, if you plan to overclock and don't already have an aftermarket cooler, I recommend the Hyper 212 Plus...at least on the budget you appear to be on.
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