The formula is no more graphics oriented than any other SLI/Xfire capable X79 board, so I'm not sure where you get this from. The UD5 is pitched right at the same market segment so not sure why you'd exclude the forumla on that basis. If you're a manufacturer making an X79 board and there is little point in having all those PCI-E lanes available if you're not going to use them in your product.
On the X79 platform I think you'll find that gfx and performance are not mutually exclusive and they go very much hand-in-hand ... it's the main reason that people consider X79 for SLI and Xfire setups over Z68/Z77 and it particularly makes sense when you're not likely to use quicksync/Lucid encoding. In fact, you could argue that X79 is less graphics focused than Z77 when it comes to things like video encoding.
Unless you can really use those extra cores on the 3930K then you're really better off looking at something else if budget is an issue. The forumla is competively priced when you look at similar products and the features it offers. Even if you're not going to use those features today they make it an excellent all rounder with more longterm potential.
There's nothing that gives you a greater sense of knowing that you've chosen the right product when it is capable of meeting your immediate requirements today but have scope for things you've yet to consider tomorrow. It's 40 quid more than a UD5 and I think it's well worth the money for the brand alone.
Why are you buying a 3930K? What is it's intended purpose?