I7 vs. I5 for photoshopand digital video editing?

Would I gain anything by goin with an I7 over an I5 CPU for doing digital photo editing and digital video editing? TheCPU I am considering is the:

Intel Core i5-3570K Ivy Bridge 3.4GHz (3.8GHz Turbo) LGA 1155 77W Quad-Core Desktop Processor Intel HD Graphics 4000 BX80637I53570K

I will probay not overclock it.
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More about photoshopand digital video editing
  1. Save the money for more RAM, bigger/more SSDs and a grafics card that supports the video encoding.
  2. depends on the program you are using and what you do in photoshop. If you do high res 3d renders that i7 will work wonders. Also like noidea said you want a lot of good hardware all around for a good machine. since you did not post the specs, just to be safe I will also agree you want a good amount of ram, 8-16 gb depending on application use, a good graphics card for speed and if you have Nvidia GPUs you may have Cuda enabled video editing software. SSDs are an option but not needed.
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