Its one of the better previous generation quads from intel.
Today, i5 and i7 are definitely faster, as are the new 6 core AMD chips. Id probably choose an i3 over that today simply because newer tech is always (usually) smarter.
Depending on what you use it for it could give you plenty of performance for many years. With ok cooling you should also hit clock speeds ~3.2Ghz.
One it is totally fine for everything to do right now. 2 @mrmez 3.2 ?? I have had mine running 3.8 for almost 2 years now and it benches at between the stock i7920 and 930 they win in some cases and granted this is a huge overclock to just get even with new tech... buuut what can't I do?? To answer you yes you are fine games are just using quads overclock if your going to encode things and otherwise this would be considered overkill for day to day use.