Ryan reviewed the Core i7 4770K earlier in the month and found it an impressive product. He was not able to properly test the CPU paired with a discrete GPU because of time restraints; we value results measured from direct monitor output, which takes longer than FRAPS and other software results. Still, Ryan believes that the boost in raw CPU performance justifies its existence in desktops without a funky "-E" tagged along for good luck.
For a second opinion, you could check NitroWare to see what a cynical Aussie thinks of Intel's latest offering. Of note, they compare software-measured frame rates between the on-chip GPU and those measured from a GTX 460 on Sandy Bridge, Ivy Bridge, and Haswell. He is nothing if not thorough, collecting his findings over 20 pages.
Ultimately he finds that if you are running Ivy Bridge, you will not benefit too much from the upgrade; Sandy Bridge users and earlier, on the other hand, might want to consider this platform… unless they are wanting to jump into the enthusiast-slot offerings coming up late this year and Haswell-E late the following year.
Also be sure to check back when we have our frametime measurements complete!