wiilaptop :
Yeah it's possible to put in a SSD into a ps4. So your saying I should overclock my i7? Right now I believe it's running at stock settings at 2.6 GHz, I'll look into it. I was leaning towards the graphics card as well.
You might need a better CPU cooler to get the i7 "up to speed" (oh my horrible puns), but it should cost you no more than $35USD (I'm assuming we're in America because I'm an ignorant American). An i7 920 at 3.5ghz is far more capable than most people give it credit for (an overclock that should be very readily achievable depending on your motherboard, power supply, and CPU cooler), and at 4.5ghz (with otherworldly cooling methods), enroaches on stock i7 4770k gaming performance territory.
Overclocking is a pandora's box. There are so many external factors involved that I can't wholeheartedly recommend it, especially since finding RAM or a good overclocking-ready motherboard for a CPU as old as yours is exceedingly difficult around my area, but it's certainly worth a shot. You'll need to verify the quality and wattage of your power supply, you'll most likely need a better CPU cooler, and you might need a different motherboard (I really hope not).
My dumpster-find Mac Pro with a Xeon W3540 (basically an i7 940 without the integrated GPU stuff) at stock clocks of 2.93ghz with 12GB of RAM, can still smoothly run all three Borderlands games on mid to high (very customized; I like ini tweaking, and is required to get the full performance of any PC that isn't a potato) at 55fps+ at 1440p when paired with an HD7950. It'll run League at like 150fps on maxed out settings at 2560x1600, benchmarked as of 14~ish months ago. A GTX1050 is certainly better than an HD7950, Mac OSX is an OS for gaming, and I don't have the option to overclock anything.
Final thoughts: Before you take the leap of faith and dive into the deep dark world of overclocking (I'm kidding, it's deep, but not dark), I would see how much better the PC feels with the GTX1050 in it. The next upgrade in line would be more RAM (preferably 12GB, but 8 is plenty). If you then still feel the desire to twiddle and tweak, and "What happens if I could make my CPU run faster?" runs through your head, then we can talk again.
One step at a time.