I wonder if the increase in rendering time is 4 times faster ?
No, it isn't. But it also doesn't make much sense to compare price of CPUs alone for workstation, but complete budget for workstation. With E5 Xeons, you can stack two of them on motherboard, and only buy 64GB ram, 512GB SSD, GPU, PSU, Case once. That alone is considerable amount of money. i7 would still yield better margin for value per performance, but dual-xeon build will let you use single box with much higher performance output. People buy them for multi-threaded performance primarily, it's niche product for particular use.
There really isn't concept as 'regular' board anymore, just mainstream oriented if you mean that but they don't have any differences that you might think, they're very much the same thing today, because of emergent "pro-consumer" market. For each CPU, you need exact chipset platform. i7 5820 and E5 2687 v3 are both Haswell-E/ LGA 2011 v3. If you want to use single CPU (i7 5xxx or E3 1xxx v3 / E5 2xxx v3 ) you will use board for only such platform from Asus (any X99 only ). If you want to use 2 CPUs (only E5 2xxx v3), you will use WS version of same chipset, again from Asus (x99 WS dual-socket).
Both boards have nearly identical features and are meant for same user. Dual-socket Xeon oriented X99 ASUS Z10PE-D8 (/16) is warship that blends server oriented capacity with consumer grade features such as SLI, tons of PCI-E, Sound card,gazzilion USB3 ports,etc..
There is still "enthusiast" level in between these two worlds :- ). Currently it's i7 5960X, high-clockable octa-core for 1000 euros. Around the corner is 10 core Skylake-E i7. Much pricier than rest of i7 world, but still cheaper than going full-scale Xeon route. Perfect for somebody who does a mix of GPU and CPU oriented stuff. Lot of test-renderings that you send to farm/cloud, but powerful single-threaded performance coupled with high-end GPU for real-time oriented stuff (Unreal4, VR,etc..). It took Intel a lot of years to put these out, but now they're the perfect middle 'golden' path.
2X XEON 20 core CPUs Broadwell-EP $2400 EBAY!
Ah...I wish I was more adventurous in past and got myself some ES parts too :- ).
If I didn't use so much Rebus today, I would melt. Have fun ! Make sure to post your Benchmark score and make us all feel terrible.