Mac Book Pro 13 inch i5 vs 13 inch 17 to run Video Editing Soft wares . Which one to buy?

Hello folks ,
I am planing to buy Macbook pro and I am quite confused between mac book pro i5 and i7( 13 inch) . The difference between these two version are of 20,000 Indian rupee ( which means around 400 US$).
The purpose for my purchase is mainly to use editing softwares ( Final Cut X , Adobe premier pro 6). Although these softwares can be run on both the version but I am just curious to know how much difference will make in a long run. Will there be major performance and speed issues ? Do, after a certain time, I need to upgrade to i7 and is it possible to upgrade a processor to i5 to i7 in mac ? I am bit tight on budget so I am considerng Macbook pro i5 version  is it REALLY neccessary to increase the budget anyhow and get i7 version for much better performance of editing sofwares? Please help. Thanks a lot in advance
Here is the link for specification :http://www.apple.com/in/macbook-pro/specs/
For ease , I am writing down here as well.
Mac book pro 13 inch i5                                   Mac Book pro 13 inch i7
Processor -2.5GHz dual-core(Turbo Boost up to 3.1GHz)       2.9 ghz dual core (turbo boost  3.6
with 3mb L3 cache                                               mhz ) with 4mb l3 cache
Memory- 4GB of 1600MHz DDR3 memory                              8GB of 1600MHz DDR3 memory
Storage - 500GB 5400-rpm hard drive                                  750GB 5400-rpm hard drive
Thanks and regards,
Anurag

By the model with the fastest cpu you can afford with the standard ram and hard drive because those 2 things can be upgraded by the user. That is if you are looking at the standard mac notebooks and not the retina models.
I agree with the above post that a 15" with discrete graphics would be a better choice for your needs.
With whichever model you choose factor in the cost of the extended applecare warranty because to fix any mac computer once the warranty is over is very expensive. So much so that in some cases it would be more cost effective to just buy a new computer with newer technology then to fix one that is 1+ to 3 years old. With the applecare extended warranty you will get at least 3 years use out of it with no worries of a repair bill should anything go wrong.
Note that no apple warranty covers any accidental damages. From dropping it to spilling water on it or general misuse or abusive treatment of the system.

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