Exactly what parts are you starting with?
How would you characterize your games?
How important is individual core speed vs. how many cores can the game effectively utilize?
To help clarify your CPU/GPU options, run these two tests:
a) Run your games, but lower your resolution and eye candy.
If your FPS increases, it indicates that your cpu is strong enough to drive a better graphics configuration.
If your FPS stays the same, you are likely more cpu limited.
b) Limit your cpu, either by reducing the OC, or, in windows power management, limit the maximum cpu% to something like 70%.
Go to control panel/power options/change plan settings/change advanced power settings/processor power management/maximum processor state/
This will simulate what a lack of cpu power will do.
Conversely what a 30% improvement in core speed might do.
You could also experiment with removing one core in the bios. You can also do this in the windows start configuration.
This will tell you how sensitive your games are to the benefits of many cores.
If your FPS drops significantly, it is an indicator that your cpu is the limiting factor, and a cpu upgrade is in order.
It is possible that both tests are positive, indicating that you have a well balanced system, and both cpu and gpu need to be upgraded to get better gaming FPS.
My take is that the i5-4690K and the GTX970 are about as good as it gets for single monitor gaming.