The best replacement for i7 950 is i5 2500k.

The best alternatives to i7 950 are rated as following:
★★★★★  i5 2500k
★★★★  i7 2600k
★★★  sandy bridge
★★★  i7 920
★★★  phenom ii x6
★★  i7 960
★★  2600
★★  i7 870
★  i7 930
★  1090t
★  amd x6
★  i7 940
★  i7 975
★  i7 2600
★  q9650
  930

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Speaking about i7 950, one probably shouldn't forget about sabertooth.

Other search terms related to i7 950 and their ratings are:
★★★★★ sabertooth
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i7 950
i5 2500k
i7 2600k