When they release something (in the mainstream tier, at this point the affordable rebadged server CPUs are actually the only interesting upgrade Intel seem to think anyone will need if they got a decent desktop chip in the last few years - baring wanting low Wattage for a portable then nothing enticing has come out of the Tick-Tock for gaming) meaningfully better than an overclocked i5-2500K, I'll get one of those. Hell, AMD might even be able to build a competent CPU if the Zen architecture is any good. They have to do something to avoid sinking into obscurity (despite making competent GPUs for a long time, they're not exactly eating into nVidia's dominance; their CPUs have been far behind Intel for so long you barely even remember seeing them talked about outside of budget builds).
For my money, SSDs have been more worth an upgrade cycle than CPUs in recent years (not to say a cheap mainstream SSD from the last few years needs to be replaced today, but if you've got the change then they are continuing to make incredibly fast drives that will continue to make load times for games a thing of the past, even dumping GBs of texture assets to the VRAM).
As for GPUs, you can definitely make 3 year cycles work for you but they do offer significantly more bang for your buck (and for a fixed Wattage) every couple of years so that's pretty good. I'm holding on to a GTX 760 [2013] that's almost 3 years old now. I went a bit cheap as I'd not got a lot of cash to spend at the time and right now am starting to feel the bite of the cut corners (2GB of VRAM actually being one area where settings are hard to poke up without warnings about total RAM load but it's also not an incredibly fast card by modern standards so setting everything to max at 1080p is not an option for new titles). Either Pascal or Polaris should give me a good upgrade path this year so that's a good 3 year cycle out of a cheap (eh, for enthusiast class GPUs, it launched at $250).
Before the 760, I had a workhorse of a GTX 470 (very nice, actually not badly priced, $350 launch) [2010] which was totally solid for the 3 years I used it for. Actually that card had more of an issue with getting clogged up and making the overclock unstable (requiring a proper clean to fix it) rather than actually just finding games were too much for it. I also was doing some compute stuff with it so it was running full speed 24/7 for some months for work which meant it was getting a lot of use.
Before that the legendary 8800 GT 512MB [2007]. What a $200 card. Also lasted me about 3 years. Hell, I was going to upgrade it after 2 years (so in 2009) with a HD 5850 but ended up sending it back as it didn't really give me the boost I was looking for (also ATi/AMD drivers and value-add was pretty iffy back then - this was the start of the era where nVidia dumped serious cash into their software team and started adding engine features to their drivers so ambient occlusion suddenly arrived for HL2 and Fallout 3 and CoD etc but at the time we didn't have SweetFX to inject that shader into every game, it was an nVidia only driver tweak - for the first 2 months of the 5850's lifespan you couldn't even set per-game driver settings because the 3rd party tools hadn't been updated and the official driver didn't do per-game settings at all).
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