Single-threaded performance is somewhat of a mixed bag, its faster in some test cases but in other scenarios the difference is minimal or even negative. With both chips clocked at the same frequency, there do seem to be some IPC gains as Coffee Lake delivers more per-clock performance than Kaby Lake. But there may still be some bugs as the tests were performed on an engineering sample rather than the final retail product.
In multi-threaded benchmarks the 8700K really shines, this new model has two more cores than its predecessor and this helps a lot to achieve a 42 performance boost in multi-threaded apps. No temperature or power draw measurements yet, so still too early to draw firm conclusions.
H/T: VideoCardz