There is a comparison. You can see that the i7, on average, is two frames ahead of the i5. Until games become truly multi-threaded, an i5 will be just as good as an i7 when gaming.
Yup, looks good for High-end gaming! However you don't really need that i7 when an i5 will give you similar performance. Also, the 16 gig ram may be a bit overkill.
There is a comparison. You can see that the i7, on average, is two frames ahead of the i5. Until games become truly multi-threaded, an i5 will be just as good as an i7 when gaming.
You may want to slide an HDD in there to store your games and such. 120GB SSD should be for your OS and frequently used programs/games. HDD for games and everything else.