The 8350 will handle VR. It is not the fastest CPU out there, but it will still get the job done.
The 4790K is a beast and only about 10% slower than the 6700K
There are a few Skylake boards that work with DDR3, but I would just upgrade all the way if you plan to go with the 6700K.
I would upgrade the GPU to a GTX 1070 or even a 1080 if you want to go nuts. You can still hold out on a CPU upgrade till cannonlake is out next year or even Zen if you are considering sticking with AMD.