Other than some rts games, it's usually a gpu bottleneck. Also the gtx 275 can't run all the games totally maxed out at playable framerates, which is why he may upgrade. Going from 30 to 40 is already a noticeable difference in smoothness.
The 400 series won't be bottlenecked by the quad core, especially if you can overclock it. Which one is it? Model number.
If you aren't gaming all the newest games though, your build is fine.
An ssd will show the most improvement IMO. Cuz harddrives are usually what slows computers down now. Not as helpful in gaming, but oh so nice everywhere else. But I don't recommend them right now cuz of the price, which hasn't fallen as fast as most people expected.
What's the size of your power supply? You'll need a larger one for a gtx 470/480.
If you want to max out games with AA and dx11, the 400's are better than the ati 5000's tier to tier. The ati's have more raw power but nvidia probably put the r&d into solving AA intensiveness. At least that's how the benchmarks look when the ati cards lose double the framerate with AA vs nvidia.
When I upgraded a new mobo+CPU+ram, I only noticed a 5% increase in framerates. It was a huge upgrade too. Cost about 600 bucks for it all, didn't skimp. Those won't be the best bang/buck unless you are running on a 5 yr old build.