Chosen Solution

Can I remove the 2.9 Hz Intel Core I7 proccsoor from Mid 2012 macboook pro and add it in replacement with the newly released macbook with touch ID 2.9Hz I5 processor?

Nope. For a start it is soldered, so it would be a nightmare. It is also a different socket, so it would not be compatible.

Slight correction here the MacBook laptops don’t use a socket. The processors are directly soldered to the logic board. I think Reece was implying the pin grid of the logic board is laid out differently which is correct so you couldn’t swap out the CPU chips. Beyond that the platform controller hub (PCH) chip is very different.