I'd go with the E5, if it was me buying components.
I can't really provide information on if it'll run threads well... If the server is tuned properly, with enough system memory that you're not utilizing any swap (virtual memory) it'd run well.
I have no clue what kind of server you will be replacing, but I've seen some dual socket processor machines running UBB.threads they're rocking with 96GB of ram, so your unique configuration will vary.