i7 vs. i5 is there a significant advantage?

"Would a higher speed RAM of lower storage amount be more of an advantage of a slower higher storage amount?"
 
The speed of the computer memory depends on the bus speed of the computer, I doubt that can be changed, so the memory needed in the computer is what will work with the bus speed (which as far as I know is only one speed).
 
As to CPU there were second generations I5 and I7 (or even I3) computers, now it is third generation and of course to me 3rd generations are going to be better and faster than 2nd generations which they still put in cheaper computers.
 
There is also PCIe for the graphics card and those have also changed from PCIe second generation to third generation, although a graphics card made for third generation will still work with a second generation PCIe slot in the computer. I suppose it should be faster and probably is, but some people always will give a conflicting report or as scuttlebutt goes.
 
A lot of soft synths - I suppose a faster computer speed for the CPU and bus speed on the computer to move memory around.
 
The only thing I can say is if you buy a cheaper computer like I did, you will probably find out it still has 2nd generation hardware in it, and if you are concerned by that, then buying a computer with the 3rd generation hardware will no doubt cost more and be faster.
 
Anything else about computers will have to be answered by someone who knows more about such things as 8 threads vs. 4 threads (my computer is 4 threads-cores and faster than the other old computer I had, and that my computer is no doubt not the fastest computer that can be bought nowadays, but the price was cheaper).
 
As far as I know I7 is always going to be faster than a I5 which is faster than a I3 computer CPU.
 
 

You will find a speed increase with an I7 but it is up to you to consider whether that extra expense is worthwhile. An I5 is not a less robust CPU, in fact for many years the I5 was considered to be the most solid and stable CPU that money could buy. That is not necessarily the case now with 3rd and 4th generation intel silicon but I believe that an I5, on a quality MB with quality RAM will give you a solid, stable platform. It may not be as super quick as some, but it will be reliable
Most motherboards will accept different speed RAM modules, and I have found spending only a little extra on a good name, faster, RAM can save you big problems in the long term, faulty RAM is one the harder issues to track down should it occur (and cheap RAM can be very cheap and cause all sorts of nasty hair pulling ).
I agree with Kev, in that 8GB is usually enough RAM for most small projects. However, if your track count is high, and/or you have lots of plug-ins, Synths, or samples streaming, then the extra few dollars for 16, or even 32GB is well worth the money.
Good luck and good music making.

Lush, Diva and any really exquisite soft synth will crush your cpu...whereas Omnisphere, Alchemy and the like are largely modified sample players... Creating complex waveforms is very cpu intensive... playing a file and tweaking it a bit isn't... it's more memory intensive to house the samples...
 
So, it all depends... you can spend ooodles on sample packages and use a less robust rig or get a better rig and play with lovelies like Diva, Synthmaster, Lush...
 
Also, how much do you love this adventure?  I love it more than coffee, wine, chocolate, bars, movies.... and so while I'm relatively poor... I'm rich in what I love and healthier for choosing the rig/tools
 
If it's just a casual thing, use Kontakt libraries and the like and you'll be fine but you know what I would do...
 
 

Asus Sabertooth boards are great, they're supposed to be the most reliable and are built to last, plus they come with a 5 year warranty.
 
But me, I need rampage series because I like the best.

Hello...  an i7 4 core + HT
              an i5 4 core
              an i3 2 core +HT
Windows and Sonar uses HT, and will see 8 processing lanes... if your software uses hyperThreading the i7 is the way to go.