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Very fast at 4.0ghz and is better than Intel's last gen offerings for the price. For the price of 299$ this 8 core cpu is hard to beat. At 3.0ghz it's a little on the slow side but when overclocked to 4.0ghz it really shines. I was debating between a 7700k or the R7 1700 for a while and decided to stick with AMD since Ryzen's IPC was a lot higher than it's last architecture of the FX series. If you only game then go with 7700k.
None really for the price. Intel still hasn't launched anything to dethrone this cpu at it's price point. The 2066 socket was a fail for Intel. The 8700k and other mainstream cpus are meant to compete with Ryzen. It's a good thing because it finally forced Intel's hand for a change to offer more bang for the buck. If not for this cpu Intel would be charging 499$ for it's new 8700k cpu. Or it would've stayed the same cpu like the last 3 that Intel released that were the exact same cpus.