Maybe I am wrong, but according to Maximum PC the fastest processor on the planet is the Core i7-980x.
Intel’s new 3.33GHz Core i7-980X builds on all the goodness of the ass-kicking quad-core 3.33GHz Core i7-975 Extreme Edition, but is smaller, cooler, and has an additional two cores under its heat spreader. With Hyper-Threading enabled, that’s a cool 12 threads at the ready. Meet the world’s fastest CPU.
I myself will be going for the Core i5-750, which has a total of 4 cores, but when you are gaming, it doesn’t really matter at this point, as most games only utilize 4 cores. The Core i7-980x would be an encoding beast! Although if you overclock the Core i5 it will give you an amazing gaming processor.