It's basically an i3 if you don't need the IGP or its features ... [i3 isn't worth the price hike]
I somewhat disagree. I've seen a fair number of gaming benchmarks recently where the dual core Pentium falls flat on its face, so I wouldn't say the i3 is pointless. The virtual cores in the i3 might not be super helpful all the time, but they do catch background processes and overflow to help even out frame times compared to a Pentium. That said, I think the i3 does walk a fine line with some SKUs being so close in price to an i5, but double the cost of a Pentium.
Main: i5-3570K, ASRock Z77 Pro4-M, MSI RX480 8G, 500GB Crucial BX100, 2 TB Samsung EcoGreen F4, 16GB 1600MHz G.Skill @1.25V, EVGA 550-G2, Silverstone PS07B
HTPC: A8-5600K, MSI FM2-A75IA-E53, 4TB Seagate SSHD, 8GB 1866MHz G.Skill, Crosley D-25 Case Mod