They are practically the same just the i5 has turbo boost so it can get a faster clock speed. It also looks like they should be the same price. http://ark.intel.com/compare/72055,72057
That's what I thought, but I thought all CPUs were able to over clock? The i3 has no overclock? I'm not buying them, we just got 2 new laptops at the store and the 1 with the i5 costs $200 more. The only difference is the processor and the fact that it has a touch screen.
They both can be overclocked, the i5 just has a technology intel calls Turbo Boost. It will automatically overclock itself when the need arises.
I'm not positive but the difference is most likely tiny in terms of power. You are paying more for touch screen and slightly better cpu. Touch screen in windows 8 is helpful.