Best is 3540m I 7  or the 3740qm I7. I upgraded 4 of them this past week from I 5 to I7. One being the 3740qm. 

Thank you!!!, someone mentioned a quad-core?  I'm still doing research for this little project!!!

again, Thank you so much!

I finally did it! IT WORKED LIKE A CHARM!!!

            Thanks, RJ

So the i7-3720QM is a quad core that support 32GB of ram, would the Motherboard even support two 16GB sticks? Other reading show it officially should only support 8GB but I have 16GB working fine since the processor supports it. Also do I need to consider form factor for the processor? @U2CAMEB4ME

does it has any thermal issue ?
since it has a 4 core.

If you're referring to a video card, there's nothing you can use -- you cannot install any video card in the system.  If your present system has only integrated video, you can replace the system board, heatsink assembly and (if it's a 65W version), AC adapter, which will get you the discrete-video option this system had from the factory.

Thank you so much! RJ

Welcome to the Dell Community  @grizz406 

When upgrading a CPU I would check the list then test what CPU's I had in-stock.

http://www.cpu-upgrade.com/CPUs/Intel/Core_i5_Mobile/i5-3340M_(PGA).html

For best performance you would want to upgrade to a Quad Core.

Make sure to update your BIOS to the latest version before upgrading the CPU or Memory.

https://www.dell.com/support/home/us/en/19/drivers/driversdetails?driverid=vtvjj&oscode=wt64a&productcode=latitude-e6530

I can pull an E6530 from my warehouse and see if I have any 3rd Gen QC's to test.

Best regards,

U2

Just need this socket and I7 type. Fit's perfectly with the heat sink paste.https://www.ebay.com/itm/Original-lntel-Core-i7-3540m-SR0X6-CPU-4M-Cache-3-0GHz-Dual-Core-i7-3540m/293165730010?hash=item44420a08da:g:Nd4AAOSwpoVdOxSh