This not true. Most PC games are GPU-bound, and very few games take advantage of more than 4 threads. The exceptions to this rule are simulation games like Cities:Skylines and strategy games like Total War and Civilization. An i5 is sufficient for pretty much any game on the market. 

If your GPU budget is $500 I suggest you to buy GTX 1080 even if you don't care about 4k. You know, for futureproofing your rig. Well unless you intend to save some money for other thing which in that case, yes the 1080 is overkill.

Yeah, there's a reason the WiiU, PS4, X1, Pro, Switch, and X1X all have dishwasher powered potatoes for CPUs. Sony, MS, and Nintendo know they can get away with it, because only a minority of games will be severely limited by it. It'd be true to say there are more CPU intensive games on PC than on other platforms, but in general gaming has become progressively more GPU focused (relative to available CPUs).

Thanks, guys, for all the help. Really appreciate it.

Just remember the GOLDEN RULES:

ASUS mobo
gskill Ram
Western Digital Hard drives
corsair power supply

for 1080p a GTX980 will do the trick man. But a 10 series wouldnt hurt if you have the flow.

but buy a 4k tv and get a 4k rig. might as well!

Thanks for that. I'll take a look at it

For 1080P gaming. A Geforce 1050, Core i5, 16GB Ram is fine.

If you wish for Ultra settings, 1080P, 60fps, Anti-Aliasing. Then step it up to the Geforce 1060. You don't need to spend a ton of cash on hardware if you are only gaming at 1080P.

If 1060 is enough, what do you think of following this path:?

https://www.amazon.com/gp/aw/d/B06Y4GZS9C/ref=cm_cr_srp_mb_bdcrb_top?ie=UTF8

I tagged this item last year as it seemed to be a good price-for-money option:

https://www.amazon.com/gp/aw/d/B01GXOX3SW/ref=mp_s_a_1_6?ie=UTF8&qid=1497853443&sr=8-6&pi=AC_SX236_SY340_FMwebp_QL65&keywords=gtx+1070&dpPl=1&dpID=51y7rQKEq4L&ref=plSrch

Thing is, price didn't really drop the way I thought it would. What gives? For that buck I can get a gigabyte 1080.