New PC - Intel CPU Help.
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For gaming it really depends on the games you'll be playing. You could very well use that money to spend on a better graphics card instead.
If money isn't an issue, then yeah - the 4790k is probably the best and easiest way to go.
However, for more budgeted builds, you have to do some sacrificing, usually in the CPU. Like I said though, it does depend on the games.
MMORPGs for example, are CPU hogs. Also keep in mind other software you may use, like video editors. If you're a huge MMORPG player and a video editor, then it's usually more beneficial to get a high end (i5 or i7) CPU paired with a mid range video card. However, for most other games (Most AAA titles you see out there), you'll gain more of a benefit from having a mid range or lower end CPU with a higher end GPU.
However, answering your specific questions:
1. Assuming you have the cash, then yes - you're definitely better off getting an i5 or i7 for gaming in the long run (You also don't have to worry about your performance choking over time for the most part).
2. i7 will be better than an i5, however it's not as cost effective. Over time, an i5 will still be a beast for a long time. An i7 will last a bit longer, but probably not by a large amount.

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