If I have to compare i7-6850 with another processor, I would compare it more to i7-5930 rather than i7-4970.If 4790K is an apple and 6850k is an orange I will take apple anytime over orange.Uh... you're comparing apples to oranges. The I7-6850K is a 6-core 12-thread processor @ 3.8GHz times 6 cores vs. the i7-4790K (which I have) 4-core, 8-thread processor @ 4.4 times 4 cores.The i7-4790k is a much faster processor and more than half the price
http://cpuboss.com/cpus/Intel-Core-i7-4790K-vs-Intel-6850K
All of the parameters mean absolutely nothing. Two processors have to be compared by what they can do to the user under software used. There are a lot of software that favors speed more than the cores.Also, the i7-6850K has 15MB of cache, vs. the i7-4790K with only 8MB Cache - the more cache, the more info the processor can process at a time. Given the specs of the i7-6850K, that hardly makes the i7-4790K "a much faster processor". It fact, it is a slower processor, even with a faster clock speed. Lastly, the 6850K is a newer processor by 2 years over the 4790K.
That said, yes, it is also about $254 bucks more than the i7-4970K - 589.99 (6850K) vs 335.62 (4790K) - Amazon prices.
Just FYI
As to which processor to get, that's up to the OP and their wallet.
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i7-5930 with OC runs better than i7-6850, but in standard more i7-6850 wins.
And another difference is i7-5930 can handle only 64GB RAM while i7-6850 can handle 128.