Currently have an i7 9700k processor with a 1070 evga OC. I use a 1440p monitor that has max 170ish refresh rate. Have a line on a 3070 at reasonable price but can already run most games I want at 60fps and some at 144-170. Would i see a signifcant upgrade? Are there even any AAA games out there that run at 120hz+ and would work on a 3070 or would I need something better?

you would certainly see an upgrade in performance, do you play specific games that youre curious about or just generally running through AAA titles as they come up? either way its going to boil down to you deciding if the % performance difference that you see in your favorite games is worth it to you financially. what are you getting the gpu for? if you can sell your 1070 at a higher than average price and are getting a good deal on the 3070 then it might be a good time to do that swap, considering the 9700k will power a better GPU just fine before needing an upgrade.

If you can get it MSRP, absolutely. Great card