Have been a FX-8350@5,0ghz owner switching to an i7 4770k the difference is definitely there but not in the way most likely would think. The averages was about the same(fx@5ghz vs i7@stock) but the dips was much worse on the FX(while also sometimes have roughly 5-10% more on the max fps which resulted in the roughly the same averages but a very uneven experience).
There would also be the occasional game where the fps of the FX would be half the intel(fx@5ghz vs stock i7). Now ofcourse you can contribute this to the way the specific games were programmed(aka unoptimized some most likely would say), MMOs being particular notorius in this department, but it doesnt change the end result one bit. Not saying though you cant play MMO games on an FX cpu cause you definitely can, i did that for a very long time with mostly an okay experience.
I couldnt get the FX over 4.6ghz to begin with, but new cooling and that baby would shine and just give and give in return.. My i7 doesnt care if its watercooled or has some cheapo CM 212 evo cooler on it. It wont go above 4.2 stable and while i can play most games at 4.5 without crashes it takes 1.32volts to get there and i still crash every 2-3 days in some odd scenario so its not stable. Its just a very dull chip and it has almost no give, i mean 10% max for those who are lucky to get the 4,7-4,8ghz(yes 10ish% cause you have to calculate maximum boost speed as part of stock speeds since its in the specifications) its just sad for K chip. The Sandy bridge days were much better in the feeling you got from archieving 4,8-5,0..
I am still to this day more impressed with the 32nm FX-8350 results than the 22nm intel. In terms of manufactoring the fx is just so behind already yet its still valid gaming chip and an awwsome product to play with(and rather cheap one to if you go for the little brother the 8320)
TLDR: So to sum up the i7 is obviously faster than the fx and more interesting than the i5 but its not my favorite chip. That would title would actually go my old fx 8350 due to its nerdiness appeal and price/performance ratio.