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The i7 12700 (8 P-cores) will be out soon. On stock settings, this will have perform nearly as well as the 12700K and 12900K, but cost a lot less. So in my view it will be the sweet spot.
The i7 12700K might perform 5% better, if overclocked to 5Ghz on all cores, but can reach 90 degrees under these conditions (you could use a beefy cooler though to reduce the load temps). The overclocked 12700K was just 1% faster in games than the 12700K at stock settings, according to this review:
https://www.techpowerup.com/review/intel-core-i7-12700k-alder-lake-12th-gen/23.html
You can see that at 4K resolution in games, the performance difference was negligible.
I wouldn't advise buying the i9 12900K, since it can hit 90 degrees on stock settings, or higher if overclocked.
If you wanna go balls to the wall, I'd expect the i9 12900 to perform well, due to having the same L3 cache as the 12900K, but with limited clocks.
The main thing to know about the Alder Lake series, is that the 'E-cores' don't appear to make much difference in most real world applications or games. I think the designers hit a limit on the number of higher power (performance) cores (apparently just 8), so they opted to add 4-8 lower power cores instead.
Another possible explanation for the 'E-cores' is that Intel wanted to win multithreaded benchmarks on desktop and laptop CPUs... They are also more scalable in terms of power, which is useful for mobile CPUs.