3rd gen i5 or 3rd gen i7

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Hello,
I am looking to buy a new laptop. I will use it for gaming(I'm satisfied in playing at medium settings),word,PowerPoint,youtube,etc. Should i go for 3rd gen i7 or 3rd gen i5? Are there any significant noticeable differences between the two?

 

with the new 2 and 3 gen cpu from intel other then having a larger cache i7 and hyperthreading there the same chip inside.
your better off going with an i5 and using the money for a better gpu in the laptop.
 
The primary difference between the mobile i5 and i7 CPUs are that some of the i7 CPUs with the "QM" designation are quad core CPUs. All i5 CPUs are only dual cores. i7 CPUs also have larger L2 and L3 cache compared to i5 CPUs.

The vast majority of games only use 2 cores. While more games capable of using quad cores will come out in the future, they will just be a fraction of all games released. If you want to "future proof" yourself for these games then go with a quad core i7 CPU. Battlefield 3 is a popular game which does use 4 cores in multiplayer mode.

Other than a few games, the difference between an i5 and i7 isn't really noticeable based on your intended purposes.