i7 3820 (non k) vs i5 4690k

Solution
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As you can see according to this chart that i5 4690k when oced can reach the same potential as i7 4790 so no doubt it will be better than the i7 3820.
The main advantage of i7 3820 is hyperthreading .
http://www.cpu-world.com/Compare/508/Intel_Core_i5_i5-4690K_vs_Intel_Core_i7_i7-3820.html

Damn_Rookie

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The i7 would have to very cheap for it be an attractive choice, as keep in mind it demands a more expensive X79 motherboard and is based on pretty old architecture (it's a Sandy Bridge-E chip). Throw in the fact the X79 chipset had no native USB 3.0 ports, and only 2 SATA 3.0 ports, and you begin to see why a more modern i5 (or i7), with an appropriate Z97 board, is a more attractive option.

Really, the only reason to go for the i7 3820 is if it's very cheap, or you have particular need for the 40 PCIe lanes it has.