Except for the fact that MT6575 outperforms MSM7227A...If you are going for a 1ghz,512mb ram & ics, you can go for a similar to spice mi 500, it is a snapdragon phone & 5" too......i think it costs the same as other mtk6575 phones.........
Anyway, this "MediaTek vs Qualcomm" chat is offtopic, so let's end it now.