It depends on the types of games you play.
strategy games, sims and mmo are typically single threaded and cpu limited.
Fast action games are typically graphics limited.
Here is my stock approach to figuring it out:
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To help clarify your CPU/GPU options, run these two tests:
a) Run YOUR games, but lower your resolution and eye candy.
If your FPS increases, it indicates that your cpu is strong enough to drive a better graphics configuration.
If your FPS stays the same, you are likely more cpu limited.
b) Limit your cpu, either by reducing the OC, or, in windows power management, limit the maximum cpu% to something like 70%.
Go to control panel/power options/change plan...