I am about to build a PC for gaming and cad software it going to be a high end system so I can afford the 4770k but I don't want to pay the extra for 2 extra seconds of speed and I don't mid and or Intel. And I will also be running a evga gtx 780 and corsia hydro h100i for overclocking.
Well this a loaded question :P
Id choose the 8350, its cheaper, has 8 cores and is probably going to become the better CPU for games over the comming years. The Haswell is going to be quicker in the linear CAD apps and only slightly slower with the rendering.
The difference in times isnt going to be huge at a guess between 10-20 seconds depending on what task your performing and that works both ways (8cores vs 4 etc).
3D Cad programs love cores. I upgraded from an overclocked 2500k to a 3770 and the jumps in productivity were insane. Also, the frequency in crashes in Revit and 3ds MAX was reduced to almos none. If you're doing extensive CAD work, it's worth it.
What software are you going to use and what are you going to be doing? There are some cases like rendering in mental ray where a fx 8350 is nearly as fast as a 3770k and there are others where it is not so close. Then you have to consider the scale of the task you are going to be doing to decide how much the extra performace is worth.
I wouldnt consider an i5.
If you are unsure about these things I would just play it safe and get the 4770k since your budget allows for it.
If you got the 8350 the money you save could be used to get 2 SSD's so when your working you can use one drive to work off and one drive to write too. the speed increase of SSD to SSD (then copying finished file to a HDD) is a bigger increase in speed than 8350-4770k
3930K would be the highest 2011 I would recommend on a budget, also don't use AIO liquid cooling solutions you can get better air coolers cheaper