~$250 Gaming CPU Suggestions

[Shinkiro]

Recently, my 3770 died, (bought second hand from a friend for cheap, not a big deal) and I am looking for alternatives. I use my PC purely for gaming, my main concern is not taking too much of a performance loss. My GPU is a GTX 760 which I will be upgrading around Christmas.
My price range is around $250 for the cpu, with another 150 for mobo and proper cooling, so $400 in all.
My thoughts so far are:
4690K
E3-1231 v3 (suggestion made by a friend)
Or trying AMD, though honestly I wouldn't know what would fit my needs.
I should also mention that I may plan on overclocking in the future.

 

[mlga91]

With that budget intel is the way to go:

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor ($229.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($28.99 @ Micro Center)
Motherboard: ASRock Z97 EXTREME4 ATX LGA1150 Motherboard ($123.79 @ Newegg)
Total: $382.77
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-10-13 14:46 EDT-0400
,
The 4690k is one of the best CPUs for gaming, the xeon that you mentioned performs like a i7 4770 without a igpu, it has 4 cores with hyper threading, that is not really used in gaming, is more oriented to cad and rendering aplications for example. The only downside of the 1231 v3 is that is locked, so you cant overclock it.

 

[Brunostako]

mlga91 got it.

Intel Core i5-4690K is the best high end gaming CPU for single and even some dual GPU setups. i7 and Xeon doesn't bring much to the table, the extra thread don't help on gaming.