no. whats probably the issue is your running into mutithreaded games that need more than 2 cores to run. this will cause serious fps degradation on games like bf3/4. gta is badly coded and needs a quad even a core 2 quad will give better performance in gta 4 than the intel i3 in some configs.
assassins creed 3 and 4 are badly optimized for gfx on pc causing poorer performance than expected even from higher end cards. disabling filters is all you can do to gain fps.
your cpu will play most games well, your gpu is pretty weak, so low rez and bare minimum filters will more often be your only choice to get playable fps.
i would recommend when you can afford it you swap to an i5 if your board can handle it and add a better gpu up to a 660 with that psu.
im not saying the i3 is a poor chip , far from it , just as this year goes on more and more games are gonna require a quad core as minimum spec.