Should I Upgrade the Processor?

Solution
As suggested, it's not a bad CPU and while you will get lower performance than a faster CPU in some games the amount is going to vary.

It's definitely not worth upgrading IMO.

Maybe not the best example, but:
http://www.anandtech.com/show/8227/devils-canyon-review-intel-core-i7-4790k-and-i5-4690k/5

Note that many games running 2x770's are doing quite well with the i7-4765T which is pretty similar to your CPU (newer architecture, but slower frequency results in single thread of 1700, 1744 roughly so comparable)

http://www.cpubenchmark.net/cpu.php?cpu=Intel+Core+i7-4765T+%40+2.00GHz
vs
http://www.cpubenchmark.net/cpu.php?cpu=Intel+Core+i5-3350P+%40+3.10GHz

*If you have FOUR physical cores then the SINGLE thread score is very...


It will have minor bottlenecks.

Personally, if you have the money an upgrade to the i5 6500 and a Asrock H170 Pro4 would be a great upgrade. New RAM if you don't have DDR4.
 
As suggested, it's not a bad CPU and while you will get lower performance than a faster CPU in some games the amount is going to vary.

It's definitely not worth upgrading IMO.

Maybe not the best example, but:
http://www.anandtech.com/show/8227/devils-canyon-review-intel-core-i7-4790k-and-i5-4690k/5

Note that many games running 2x770's are doing quite well with the i7-4765T which is pretty similar to your CPU (newer architecture, but slower frequency results in single thread of 1700, 1744 roughly so comparable)

http://www.cpubenchmark.net/cpu.php?cpu=Intel+Core+i7-4765T+%40+2.00GHz
vs
http://www.cpubenchmark.net/cpu.php?cpu=Intel+Core+i5-3350P+%40+3.10GHz

*If you have FOUR physical cores then the SINGLE thread score is very comparable for gaming. The TOTAL score is not comparable if one has hyperthreading and the other does not, or if the CPU has a different number of cores.


Summary:
I'm not saying this represents all games, but looking at these graphs at least it doesn't appear that upgrading your CPU would be worth it.
 
Solution