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That is for oveclcoking the memory past the advertised speed of 3200, XMP will get you setup to 3200 speed also set memory timings and it makes changes to VCCIO, VCCSA, memory voltage.this is what I read about this board not having memory presets.
For gaming alone and to keep all your existing parts other than mobo + CPU, just try get good information on the relative performance of the various i5 and i7 processors from 2nd generation (2000-something, i.e. 2xxx) up. To avoid information overload, skip i3s, lower i5s (x3xxx–x4xxx, unless the four hundreds are very close to 500) or high i7s (most i7s in general) and focus on the better stuff and look specifically for it (e.g. search for those numbers on auction sites). On the other hand, if you find something that looks like a low price for an i3 or low-end old i5, that is the moment when you want to find out about the relative performance of that specific CPU. Similar thing if you find an unexpensive i7 that isn't too old.
What you want for gaming is — as a sensible minimum — four physical cores with strong single-core performance. The older your games, the more it counts to have good single-core performance. If you play a lot of real-time strategies and similar games, then it may be important to put some emphasis on a high CPU clock. There are situations when cheaper and less complicated processors outdo their sophisticated betters simply because of a higher clock, e.g. this should be the case with Pentium Gs in Starcraft 2.
On the other hand, Skylakes aren't a bad bang for the buck, and DDR4 memory is relatively cheap (this said, good sticks are twice more expensive than basic sticks anyway). I got my CPU and mobo (i5-6600 (non-K) + Asrock Fatality K6) for little more than the equivalent of $300 in my local currency. In your situation I'd be tempted to get a cheap used sorta-high-range i5 + decent mobo and wait it out while you can (keep the big cash for something better).
EDIT: Sorry, hadn't read page 2 and didn't realize you'd already ordered something. I'll just let the post stand then. GL HF with your new stuff!
Corsair is a very customer friendly company. I have no doubt they will ship you the part. I wish Corsair made motherboards as the customer service for all the existing major motherboard manufacturers leaves a lot to be desired.
Yeah I think I will do that too. Now I am having trouble with file explorer opening on startup and windows 10 is saying its not activated and now wants a activation key lol. I done the free upgrade so idk...Sorry, I haven't used an Asus overclocking board for years. But I don't like to use utilities like the ai suite, I'd rather just OC from the BIOS directly.