That CPU cooler is the BEST you could possible purchase. So it is MORE than sufficient.
What kind of lag are you seeing in your game? You shouldn't lag on any game released today to be perfectly honest with you. And a CPU upgrade wouldn't help that much; FX-8150 is actually a very good CPU.
My suggestion would be to OC your CPU to see if that helps any.
A Crosshair V Formula is a AM3+ motherboard and will not cross support a Intel processor. Also you don't want to get 2x 7970's with a FX 8150, you will get plenty stuttering, unfortunately as a AMD fan I admit that two high end GPU's are not good with this processor (Up to 25% loss of FPS with top end cards in dual setup). You can possibly get away with 2x7870's or a single HD 7970.
If I were you on the same platform.
Mobo: Asus Crosshair V Formula Z
CPU : FX 8120/8150
RAM: Patriot AMD Radeon Memory 2x4GB 1866
GPU: HD 7950 (MSI Twin Frozr III)
CASE: Corsair 500R
PSU: Corsair HX 750w V2 Gold
Cooling Corsair H100
SSD: 256GB OCZ Vertex 4.
^ Not quite sure what you're recommending with that reply, since he already has the system listed in his first post. Maybe you're saying that's what he should have done (or should change to)?
I saw that afterwards. I guess then its just a hypothetical build, its what I am running this week until I change again. All he can do now really is get rid of one 7970 which is seriously demanding for most setups in crossfire.