is I5 with SSD quicker than I7 and 5400 HD?

The question is invalid since an SDD or HDD has no bearing on the performance of the CPU, and vice versa. The two serve completely different tasks.

Whereas a faster CPU improves performance across the board, a faster disk (eg an SSD) has a more limited scope, making boot time faster and applications start up quicker and run quicker, but little else beyond that.