I just upgraded over the weekend from an i7 920 running at 3.7Ghz (had to lower it over the years to maintain stability) to an i7 5820k. I'm seeing some major improvements in the games I was hoping to. Dragon Age Inquisition, went from seeing FPS around 40-50 around the Crossroads, Red Cliff, the Sword Coast and a few other key spots, to never dropping below 60, and mostly at 85+ FPS in those same spots. I have noticed it can use up to 48% of my CPU, which means up to 6 cores completely pegged. Grim Dawn, which is a single threaded game, also saw improvements, from 50 FPS at the low, to about 70 FPS at the low end.
Every game will not use cores like Dragon Age Inquisition, and not everyone experiences nausea from sub 70 FPS, but there is definitely room for improvements with your CPU if you are after higher minimum FPS. (Fry's had a super deal on the 5820k).
It really depends on what you are aiming for and the type of gamer you are. I require high FPS and will lower settings to get there. That means the CPU can help more, but if you are ok with your minimum FPS, and want to use higher settings, a GPU will help a lot. I also had issues with my motherboard and Windows 10, and Gigabyte had not updated drivers for it in 4 years.