Budget gaming laptop comparison

Hello everyone
I'm planning on buying a budget gaming laptop and the two best configurations i could come up with (as per performance to value ratio ) were-
3rd Generation Intel® Core™ i5-3210M processor (3M Cache, up to 3.1 GHz)
6GB 2 DIMM (1 x 2GB + 1 x 4GB) DDR3 1600Mhz
1.0TB 5400RPM SATA Hard Drive
17.3" FHD WLED Anti-Glare (1920x1080)
NVIDIA GeForce GT 650M GDDR5 2GB
and
3rd Generation Intel® Core™ i7-3630QM processor (6M Cache, up to 3.4 GHz)
8GB 2 DIMM (4GB x2) DDR3 1600Mhz
2 x 750GB 5400RPM SATA Hard Drive
17.3" 3D Capable FHD WLED True-Life (1920x1080)
NVIDIA GeForce GT 650M GDDR5 2GB (3D)

According to me the main difference lies between the processor as I'm not too intent on the 3D GPU. Will it be a considerable downgrade to go from the i7 to i5 ? I read somewhere that i5 is usually better for gaming as hyper-threading in the i7 reduces performance by a small bit. To be clear, all I want to do on the laptop is gaming and not video rendering/editing etc. Also will the 3M cache/6M cache make any difference when it comes to gaming ? Please advise.