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The Intel Core i3 processor is the closest successor to the now out-of-production Core2Duo processor. The most significant differences between the i3 and i5/i7 is the lack of Turbo Boost and less cache (L3) memory. The i3 offers moderate all-around performance and is often found in budget-oriented systems.
A dual core processor is different from a multi-processor system. In the latter, there are two separate CPUs with their own resources. In the former, resources are shared, and the cores reside on the same chip. A multi-processor system is faster than a system with a dual core processor, and a dual core system is faster than a single-core system, when everything else is equal.