Thoughts... quite simply, higher clocks are still generally better than more cores for gaming, but AMD mainly win by having more cores. I'm running an overclocked i7-8700K at 5GHz and I can't see any reason to upgrade it - either now or in the next year or two. Maybe when Intel get 7nm running, but I won't hold my breath!
The equivalent to that chip now would be the i5-10600K - 6 cores 12 threads, which is plenty for our sims. Almost certain to hit 5GHz overclock with no trouble, since it has a decent thermal interface between the die and the heatspreader (unlike the 8700K, which needed that fixing first). It costs half the price of the 10900K and the FPS difference would be small - it even wins in a few cases against a non-overclocked 10900K.
For sure the 10900K has the same good thermal interface and ends up a bit faster once overclocked, but it appears a solid overclock is more fiddly to get right and it takes a lot of power to get up to the max (more power -> more heat -> more noise and reduced longevity).
Six cores and 12 threads serve up a gaming stunner.
www.tomshardware.com
Kick the tires and light the TDP fires
www.tomshardware.com
So right now the 10600K would be my pick of CPU, although I must admit I haven't researched the costs of a decent LGA1200 motherboard to go with it compared with an AMD equivalent.
PCIE Gen4, IMHO, is not going to come into its own for a while. I won't miss it on my current PC at all, but then it will get replaced in a couple of years time. A top tier PCIE Gen3 NVMe drive is already a very quick thing!
edit: Going by leaks, the Ryzen 5900X looks like it will be very strong on single core speed, scoring 652.8 compared to my 587.8 in CPU-Z. Worth waiting a week for benchmarks... and prices!