Depends on what you do with it, but you could likely also put in an Ivy Bridge i7 if you wanted to stretch that board a tiny bit farther.
If you are gaming then the IPC on single threads between an i5 and i7 are very similar. Most games will play roughly the same between the two. If you are doing other tasks such as streaming, video editing, graphics work, encoding, etc, then there would be an advantage towards the i7s.