Unfortunately "AAA titles" still doesn't mean a whole lot, games differ. In most games it should be fine though not sure you need crossfire'd 480's for 1080p/60hz. The 480 is competitive with the gtx 1060 and both are solid 1080p cards. So long as the game supports crossfire ultra settings shouldn't be an issue at that resolution. The cpu will do well in most games, some it will have a little trouble with such as bf1. A single 480 likely wouldn't reach 100% use in that game while the cpu would be maxed out.
For instance just looking at a few benchmarks at 1080p with the 480 both single and crossfired. Far cry primal, single 480 44fps/59fps, xfire 48fps/70fps min/max. Not much difference. Metro last light averages 81fps with 1 card, 130fps crossfired but the min fps drops from 27fps to 16fps when adding a second card. Shadow of mordor shows an improvement in min fps going with crossfire and averages are above 60fps with even 1 card. Thief, minimal improvement and a single 480 averages 80fps. Tomb raider a single 480 manages well over 100fps both min and average. It's a bit of a mixed bag.
http://www.tweaktown.com/articles/7770/amd-radeon-rx-480-crossfire-beating-geforce-gtx-1080-4k/index5.html
The i5 6500 will do well for most games but keep in mind that with 2 480's there may be times they won't be used to their full potential at 1080p. It's more about gpu capability vs resolution, much like a gtx 1080 is a bit overkill for 1080p gaming. At 1440p and 4k it starts making more sense. These are a few bench's of an i5 6500 paired with a gtx 980 at 1080p.
http://www.hardwarecanucks.com/forum/hardware-canucks-reviews/71760-intel-skylake-i5-6500-i5-6400-i3-6100-review-10.html
In a few games like witcher 3, bf1 etc hyper threading with the i7 can help maintain higher min fps, improve frametimes and achieve higher fps. A faster clocked i5 like a 6600k with an oc would improve fps a bit as well, those games are fairly cpu intensive. Adding more gpu's to the system will only increase fps if the gpu is the limiting factor, crossfire can't overcome situations where the cpu is pushed to the limits. Only a faster/stronger cpu can achieve that.
That's why I say it depends on the game, all of those are AAA titles but they behave differently.