PCI Express Help

I am a noob and i don't know much about PCI Express but I have a question in my mind and i want to clear it....Plaese help....

Intel Core i7 3770K - It has 16 maximum number of PCI Express Lanes
PCI Express Configurations 1x16, 2x8, 1x8 & 2x4

But, Asus Maximus V Extreeme ( LGA 1155) - PCI Express Configuration - 5 x PCIe 3.0/2.0 x16 (x16 or dual x8 or x8/x16/x8 or x8/x16/x8/x8)

Both of these are different in configuration from each other...Please tell me much about this because i am confused coz i want to install 2 GTX 690 (Quad SLI) but I read that i7 3770K supports maximum of 16 PCI Express lanes....I know that running both of these at x8 doesn't impact on performance but in future if i will go for another graphics card just like 4 x GTX 680 4GB Edition...Then the performance of the graphics card will downgraded...????????

i can be totally wrong...Please correct me.
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More about express help
  1. The Z77 chipset provides additional pci-e lanes. Intel has some white paper about it.
  2. Look the mobo for pci-e specs, cpu just has to support the technology, and in some cases it doesn't have to do the (like USB3.0 via an add-in card).
  3. The Core i7 3770K has 16 PCI Express Lanes. The chipset provides additional PCIe lanes for the motherboard to use as the manufacturer designed it. So you really have 32 lanes to work with. You get a full 3.0 x16 lane or two 3.0 x8 lanes. Remember, a x8 lane is in fact a PCIe gen 2.0 x16 lane. You can also split them in x8 and two x4 gen 3.0 lanes. Check out this review:
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