IMO, the monitor is wide monitor it actually had small display area so i would not change the monitor, (my 17" old monitor had the same hight as my 23" wide monitor)
i5 is good enough for everything. Not so many games/apps optimized to use 8 thread that i7 offer, so dump the extra money for GPU...
if u insist go with i7 u will get unbalanced build, strong in processor but weak at GPU...
(GPU is more important in gaming, in everyday task not much processor power is used)
anyway that just my 2c