Well, I've seen plenty of these extreme systems being benchmarked, and they seem to run just fine on i7's and i5's.
From my understanding, the GPU renders, not the CPU, and the CPU usually runs the physics as well as kind of oversee everything. When increasing the size of the rendering area, it's almost exclusively the GPU that has an increased workload. Although I do know there are exceptions, which is why I said, "for the most part".
Example:
http://www.hardocp.com/article/2011/04/11/amd_radeon_69906970_crossfirex_trifire_review/2
The reason the CPU often becomes the bottleneck in these extreme setups, is they don't push the GPU's by using high resolutions or multiple monitors. At which point the CPU holds the GPU's back from a possible 300 FPS or what not, because the CPU can't keep up with everything it needs to do. That's not the case of you have 3 1200p monitors to render on.