An i5 would be fine if gaming is your number one priority, an i7 in games only comes into it's own with multi gpu's in sli/xfire in a few games at present.
Id also suggest sticking with the i7, it's expected that after the release of the next gen consoles, more games will start to utilise more threads. Will help with future proofing. Thats a nice cooler bundled with the 4770k too.
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