Question Will the Intel i7-7700k be good for gaming while streaming at the same time?

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Well, it will work, but it won't be optimal. You might get some slowdown from time to time and an impact to framerates, but it will do it.
Great response to give without even knowing what GPU he has and at what settings he is playing...

Yeah I actually already use the NVEC setting in OBS. But I tried playing Devil May Cry 5 on high settings recently & my CPU would max out at 100% most of the time. So that's why I'm looking to upgrade the CPU.
So what's the problem with that?Don't you get enough FPS?
 
Great response to give without even knowing what GPU he has and at what settings he is playing...
But was I wrong?

Some generalizations are ok to make, such as "quad core machines, even quad core i7s, make poor streaming machines".


Oh okay. Would you be able to provide a 240mm unit as a recommendation? Again sorry for all the questions.
The Cooler Master MasterLiquid ML240L RGB (if you are into RGB), Corsair Hydro H100x, or Fractal Designs Celsius S24 would all be good coolers for the 2700X.
 
But was I wrong?

Some generalizations are ok to make, such as "quad core machines, even quad core i7s, make poor streaming machines".



The Cooler Master MasterLiquid ML240L RGB (if you are into RGB), Corsair Hydro H100x, or Fractal Designs Celsius S24 would all be good coolers for the 2700X.

Gotcha. Well I think I've decided on what I'll be getting. Thanks very much for the help! I really appreciate it! :)
 
My FPS drops when I put the in-game settings to high & it's not a very good experience when I'm streaming at the same time.
Yeah if you can't run high settings you need a better GPU and not a CPU,there is almost no graphics setting that impacts CPU performance.
But was I wrong?

Some generalizations are ok to make, such as "quad core machines, even quad core i7s, make poor streaming machines".
It depends on too many things to make such bold generalizations,as we see now he has a problem running high settings,and his bad streaming could come from bad settings,if he doesn't use the correct streaming settings he will have bad streaming even with a 8c/16t CPU.