lag between letters isn't something like cpu spiking to 90%, unless the cpu is hitting 100% its not in trouble anyway. i7's by standard when theres enough load for only one core will power down the others, or underclock them and overclock one or two cores, can't remember if its only one it overclocks or not. Its better to have one running slightly faster and turn the others off in terms of power, because a full speed full voltage core using 2% power is much more wasteful in terms of efficiency.
Anyway, essentially, there isn't a cpu made in the past 15 years that will be slow and show lag between inputting text and it appearing on screen, so my bet, something else is the issue. Wrong drivers, no drivers, something process thats gone bad and is using a full core for no reason, background defrag, etc, etc, etc.