Is there any point buying new hardware anymore?

Happy 2600K owner here, only sold my 7970 because I saw a really good 290 deal. 290 wouldn't work on my z68 so had to spend another £20 to upgrade to a z77.

As others have said the next upgrade point would be skylake and the end of the year gpus, maybe wait for 2016 gpus if you don't need the extra grunt.
 
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Another happy camper with a 2500K here! 3 years overclocked to it's eyeballs and still going strong! They still fetch £100 on ebay which is pretty impressive for a chip of this age.
 
You will start to see the difference.

Where a lower end GPU may stuggle at 1440 in a few months/years time a newer (higher end) GPU wouldn't...

I agree with one of the first posts.

The Xeon isn't the way to go for gaming, yes it has more virtual cores put massively less powerful (per core). Thats why the i5's are gaming chips and not the xeons.

How are they massively less powerful per core?
The Xeon is 3.3ghz with 3.7ghz turbo. The i5-4670 is 3.4ghz with 3.8ghz turbo.
 
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