Depends a lot on what type of games you play. If you're play Civ-like games, you want a good CPU for the AI calculations, and $1500 worth of graphics cards is a huge waste, assuming you aren't playing Civ5 on two 4K monitors or some madness like that.
I really don't see a compelling case for upgrading a 2500k unless, say, you need the performance of a hex/octa core. Particularly when it's overclocked to 4.3, the performance boost of comparably-priced (low $200s) current-gen CPUs just isn't enough to justify the new CPU, new mobo, and if it's Skylake, DDR4 RAM. Things change if you're doing multithreaded scientific computing and can benefit from a hex/octo core i7, but if that's the case you probably already know it.
NVMe is wicked fast, and if you're building a new build anyway, why not? But I don't think it tips the balance for upgrading a Sandy Bridge system that isn't otherwise running into performance walls, either, for the diminishing return reason cardgame mentioned. If you have Sandy Bridge + SSD, you're probably already good; if you have Sandy Bridge + HDD, you should get an SSD but it's a much more economically sensible route to get a SATA3 SSD than to get NVMe + new mobo + new CPU + potentially new RAM.
And though I agree that cheap, large HDDs are great for a pure gaming system, I'd still recommend an SSD boot drive for those.