If by better performance, you mean an improvement over your current system... almost anything is going to help some.
If you mean, an improvement in current performance over what you had three years ago with that system then...
Basically, you need to upgrade the processor, which means motherboard and ram too.
Depending how much you're looking on spending, especially if you want your system to perform as well now (or better) than that system did a few years back...
Either go with an i7-3930K (6 Core, one generation older than current) or a current generation i7 (4 Core).
Both would have a logical core per physical core.
I went with the 6 core system, as I'm likely to move towards 10-boxing eventually.
For purely 5-boxing, the 4-core (newer) i7s would cost a lot less and perform quite well.
Ram is relatively cheap, whichever way you go.
I'd likely get somewhere in the 32GB range, but you don't need that much for 5-boxing by any stretch of the imagination; 16GB would be overkill actually, for a 5-box.
I went with a GTX 670, 4GB card.
That is probably the best bang for the buck out there.
Not the top card, but close enough and 4GB is a lot of video ram.
The Intel SSDs seem to have the lowest failure rate.
I've personally had success with the OCZs, which others report as having the highest failure rates.
An SSD, for the gaming folder, is a good idea as it will help load times when zoning, entering the game, on a boat/zeppelin, when moving around SW/Org (and everyone's textures for their armors are loading).
Get a 64-bit version of windows.
Probably either Win7 or Win8.
You can browse the hardware forum, to see what others have had recommended for recent systems.
I ended up spending close to your budget, on my system this summer.
I went with this:
Ualaa boxes with:
OS: Windows 7, Professional 64-bit
Case: Antec 1100 Gamer
PSU: Corsair Modular 1050 Watt
CPU: i7 3930K (6 Cores + 6 Logical Cores)
OC: @4.5GHz, on Air with a Noctua NH-D14
Memory: 32GB Corsair Vengeance DDR3 1600MHz, CL8, Low-Profile Ram
Video: eVGA GeForce 670 GTX, 4GB Superclocked
OS Drive: OCZ Vertex3, 120GB SSD x2 Striped (Raid 0)
Storage: Seagate Barracuda, 3TB x2
Streaming on Twitch.TV with XSplit Broadcaster
Shaw Broadband 250 (250Mbp/s Download, 15Mb/s Upload)
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