CPU for video rendering

[piowoc]

Hi,

here is what I currently have:
ASUS P9X79 PRO LGA 2011 Intel X79
Intel Core i7-3930K Sandy Bridge-E 6-Core 3.2GHz (3.8GHz Turbo) LGA 2011 130W BX80619i73930K Desktop Processor
SAPPHIRE Radeon HD 7970
32GB RAM

but it's not enough to render some sequences in Adobe Premiere Pro.

So, what I figured out is that the bottlenecks are my GPU (no CUDA and questionable OpenCL support) and my CPU.
I am planning on upgrading the GPU to EVGA GeForce GTX TITAN Z, but I need your advice about CPU.

Should I consider one of the Xeon processors?
My understanding is that I should be able to install any Xeon E5 series up to version 2 (but not version 3 and up) on my motherboard.
Some of them can be found used at pretty good price points, so the only question is if I will really see any real life improvement in Adobe Premiere Pro, or other Adobe CC applications.
From what I read what really counts is the number of cores, so my current CPU has 6 of them, but with Xeon I could go up to 12, or higher without replacing my motherboard. The clock frequency of the Xeon cores are much lower though than for my i7-3930K, so I am not sure if this makes any sense.

Your advice will be appreciated. Thanks!