Worth upgrading my i5-4690 to a Xeon E3-1246v3 to improve Handbrake transcoding?

gerr

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I have a beefy multi-purpose PC that I use for various roles. For most of those roles(Plex server, gaming, Internet, 1080p video playback, etc), my i5 is plenty powerful enough. But one of the main roles of this PC is to convert my vast Blu-Ray & DVD collection to digital format and I use Handbrake to trans-code those videos once I rip them using MakeMKV.

My server mobo is based on the H97 chipset, so there is no overclocking available. Both the i5 & Xeon I am looking at run at 3.5Ghz, so the only benefits the Xeon brings is a slightly larger L3 cache and Hyperthreading. From what I have read, HT does help with the Handbrake trans-coding by a fair amount with most benchmarks seem to put it between 10%-25% better. I am just debating on if that is worth the $275 price tag.

The reason I am looking at a Xeon instead of an i7 is that they offer the same non-OC performance of an i7 at a lower price point. An equiv i7 would be about $50 more.

My i5 has a Passmark score of 7600 while the Xeon I am looking at has a Passmark score of 9894, a 30% increase! Just not sure I will see that 30% difference in Handbrake.

Thoughts?
 
I also don't think you would gain enough to justify the cost. A while back I transcoded my entire media library to MP4 so it would play on everything, and more importantly I could easily normalize the volume levels across all the files. I just added them to cue, and let the PC run until done.
 
I trans-coded a 28GB Blu-Ray movie on Handbrake down to 6.5GB last night and it took 7.5 hours. Even if the Xeon cut that down by 20%, that would still be a 6 hour trans-code. I could just queue up a half dozen and let it run for a day or two. My only concern is that the i-series CPU's were never intended for that type of use where the Xeon's are.
 
Have any idea of the performance between the $556 E3 1285 v4 and the $275 E3-1246v3 ? based upon Anandtech's test

HandBrake v0.9.9 LQ Film (Frames Per Second) - Xeon E3 1285 v4 could reduce your times by 1.05%
HandBrake v0.9.9 2x4K (Frames Per Second) - Xeon E3 1285 v4 could reduce your times by 17.17%