Yes, it is very good. It should work well for games right now, more CPU intensive titles might need an unlocked / hyper threaded i7. By comparison, I have a bunch of 2015 games and my AMD FX-8350 benchmarks at 25% worse than your i5. And I get consistent FPS mostly independent of CPU in those titles.
However, I wouldn't get Z170 unless you're going unlocked (which you aren't)
Z170 is the overclocking / multi-GPU supportive chipset, which you don't really need. You can settle for a lower grade one unless that board is a good deal.