I wouldn't wait for Cannonlake. It's been announced for who knows how long. It will be overpriced anyways.
I don't know how taxes are in your area, but that deal seems good. I would take it if you won't be overclocking. It will make your build a lot cheaper if you don't overclock. Although you may have to upgrade sooner. But an I5 7500+GTX 1060 combo is good for now, and will be for a while. Besides 6Gb of VRAM is more than enough to for 720p, and for 1080p too.
You should also consider the RX 500 series from AMD. You'd get a little more VRAM and Crossfire ability, so that's something to think about.