ok so at first you can get a i7 bundel for 400$ a not so good one and you can also get the intel dx58so extreme motherboard with i7 920 and 3gb ddr3 1333mhz for 480$what is bether than i5 and in i5 i think you do not need a new cooler cause it is enaugh what you will get but with the i7 yoju should get one.
well it tepends on what movies ^^ if you watch full hd but probably not but for photo you need a good pc if you change pics and are photographer or smt like that
may i also ask what kind of work if you are arhitekt or smt like that so i can suggest a cheaper processor but also good for doing few thinks at one time^^
well ShtBrix your right you do not need and till now never needed a good cpu for movies you need also a good GPU
but in case of watching F-HD movies on lcd 32" or higher i recomend a core2duo lowest 3,0Ghz or a quadcore should be better.
why of thinking i5 or i7? well probably to be for future on safe side new movies and doing more than 2 or 3 things at a time ^^