A 4130 should be faster than a non-OCed 750, even in most multithreaded loads.
http://cpuboss.com/cpus/Intel-Core-i5-750-vs-Intel-Core-i3-4130
Yes definitely stock v stock I'd hazard that the i3 should win many benches. I've noticed something over the years though, and that is practical use performance.
I remember back in the day there was a fairly poorly done, but at least admirable attempt at a 'real-world' test. IOW, test from the moment POST is cleared with the same HDD/Ram/etc, into various functions. Boot to a typical Windows desktop, then open a half dozen apps, and then open files in those apps/etc (open a half dozen tabs in FF/Chrome).
With the Lynnwood being a 4C/4T @ 2.66Ghz, and the i3 being a 3.4Ghz 2C/4T with higher IPC, the i3 should still win single-core even with an overclocked 750/760. However, some things just work better with quads when in a real-world situation, due to Windows scheduling. They don't even have to be things one would normally associate as being highly threaded, because they're not. It's just that with double the cores, Windows does a fairly decent job of balancing things out. More is better as they say
Would I recommend someone build an i5 750/760
TODAY? Almost certainly not, unless the price was very very low for used stuff. The difference between an OC'd 750/760 and 4130 isn't all that huge either way (most users couldn't tell the difference in a blind test I would bet), BUT the platform upgrades for the *8X chipsets are really gigantic compared to the *5X chipsets. Really good USB3.0, PCIe 3.0, Sata 6Gbps, etc. I've upgraded people's similar systems (i7-920 is a common one) to bring them a bit more up to date with PCIe USB3 and Sata6Gps cards, but nothing is ever quite as good as Intel chipset native stuff. Interestingly, AMD chipsets just plain aren't as good with that stuff either (USB/SATA). I'll admit I haven't used the newest FM2 chipsets though, but I hated my 990 boards, even the Sabertooth. I've never felt so ripped off.
In my personal experience, I've installed a couple dozen i3s for work systems, and well, they work. I can't say I like them very much, none of them feel as fast as I think they should, even with SSDs. I've ran across some mobile i5s like that too. Just systems that are sluggish when you know they shouldn't be (full fresh reload, ssd, tons of ram, no crapware, etc). They bench fast but just feel bleh. For that reason I've gone almost exclusively with i5s, i7s, and Samsung SSDs for the past year for my clients, and people are much much happier.