Rossdowling321 :
As the title says, if you don't want to answer with the 1080s in mind since they haven't come out then just imagine i'm going a 3 or 4 way SLI on the titan X instead.
All consumer chips (like the 4790K, not the 5820K and above) have only 16 PCIe lanes. A single graphics card runs in 16x, meaning it will use all 16 lanes. If you have 2 graphics cards, they will run in 8x each. 3 graphics cards means 8x, 4x, 4x, and finally, 4 cards results in 4x across the board. You will definitely lose performance, as well as the fact that there are stuttering problems in games with 3 or 4 way SLI, as discovered by LinusTechTips.
If you have the money for a 4 way SLI Titan X, I am curious as to why you never thought about an enthusiast CPU (5820K or better). I would recommend a Broadwell-E CPU (those come out later this year or early next year) paired with a GTX 1080 SLI. 1080s are much cheaper than a Titan X.