Depends on a lot of things, price, clock speed, etc. An i3 with GT2 iGPU
already uses almost as much silicon than an iGPU-less quad-core would let alone a tri-core, so if AMD became really competitive (in terms of IPC) and Intel wanted to boot out a "more core" budget chip they could easily produce a quad-core iGPU less chip (
like the old i5-3350P Ivy Bridge) aimed at budget gamers for almost the same die-per-wafer cost as i3's. As for theoretical tri-core performance, all else being equal, Hyper-threading at its best often adds 15-25% or so, ie, i3 = 2.3-2.5x cores, i7 = 4.6-5.0x cores (though obviously various from one app/game to another - sometimes lower under 10%, sometimes higher above 30%). A tri-core (i4?) + HT would probably be equivalent to 3.5-3.75x cores. Theoretical TDP would probably be around 65w.
Overall, I see more value in Intel squeezing many more "P" quad-core dies onto a wafer than designing a tri-core. Another cheaper option to boost low-end is what crashtech said - a i3-"K" chip (though with typical OC's of 4.4-4.5Ghz, would only add around 15-20% over the current top i3-4370 (3.8GHz stock). It's a better choice than a Pentium "K" though really i3's would have benefited far more from an unlocked "K" variant back when Intel was nerfing their clock rates to 3.4Ghz and below. These days the "top i3 stock" vs "top i5 2T Turbo Boost" 400MHz disparity has typically shrunk to just 100Mhz and another core would be more "TDP efficient" than OCing dual-core and stuffing ever increasing iGPU's on every chip (which are wasted on both discrete gamers + non gamers alike).