Intel Xeon E5-2660 v3 is processor manufactured by Intel and launched in Q2 2014 . It's using LGA2011-v3 socket. It has 10 cores and 20 threads with clock of 2.6 GHz that can turbo clock itself to 3.3 GHz . This processor is used in Server devices and can consume up to 105 watts of power .
AMD Radeon R9 290X / 390X is graphic card manufactured by AMD and launched in Q4 2013 . It's using PCIe 3.0 x16 bus type. It has core clock of 1000 MHz and 4096 MB (4GB) of memory . It supports DirectX 12 and OpenGL 4.4 . This graphic card is used in Desktop devices and can consume up to 290 watts of power .
This configuration has 0.2% of processor bottleneck . Everything less than 5% should not be concerned major bottleneck.
Processor bottleneck is worse, than graphic card bottleneck, because utilization of your processor will be on maximum and it will throttle other programs that are ran in background. Also you won't experience maximal performances that your graphic card offers.
You can resolve this by upgrading your processor or by downgrading your graphic card. Downgrading your graphic card doesn't make much sense and in that case is better to leave current graphic card in you computer.