No, the 4960K has a higher base clock than the 4960 which would result in better performance. If you want the best performance possible, the 4960K would be your best option without overclocking. A higher clock speed can greatly improve games that are are optimized to use a single core.
EDIT: Confused myself into thinking you were referring to the i7 model. The i5's have the same base clock between the two. I'd go with the cheaper option.