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Pros: Stock speed plenty fast, K-series so it has unlocked multiplier for easy OC, LGA 1155 platform which has become well established, most binned chips can reach in excess of 4GHz and above
Cons: Cheap TIM, necessitates de-lidding just to get the best temps possible
Other Thoughts: This follow-up to the Sandy Bridge i7 2600K and 2700K is well worth it, it sells for the same price while giving a 10% performance improvement clock-for-clock. It' not much of an improvement when compared to Nehalem to Sandy Bridge jump but it's pretty much a free upgrade for those people who held out, they could easily charge more for this silicon but they don't, improvements are only modest because because of the lack of competition (tsk tsk AMD). It can also utilize faster memory a lot better with the improved memory controller compared to Sandy Bridge so if you have 2000MHz+ memory, it might be better to go IVB.
That being said there are some downsides to this compared to the Sandy Bridge series. More towards the whole IVB line rather than this specific model but cheaper TIM makes de-lidding something people have to do now to get optimal temps, also runs a tiny bit hotter than SB at similar clock speeds. But otherwise it also runs faster so it kind of makes up for it.
Also if you don't do a lot of video editing or such and just plan on using it for gaming, I would recommend you check out the i5 3570K Ivy Bridge or the newer Haswell 4670K/4690K variant. Both have less cache than the i7 line and no HyperThreading function but otherwise they are essentially the same chip for $100+ less. If you don't need HT (a lot of people don't, even a lot of i7 power users disable it cause it causes conflict with some apps and benchmark apps) I recommend going the i5 route, much more economical and makes a lot more sense (plus you can put the money saved towards a better GPU). Only bought this cause I had the extra money and for bragging rights ;)
Overall recommend it, two thumbs up!
Pros: Hi-res Full HD 1080p display, great size, built-in speakers are handy
Cons: Smaller size than normal 22-inch displays but nothing too big, no DVI cable included in the box (in this day and age Viewsonic?)
Other Thoughts: High-resolution for a 21.5-inch display, most come with the standard 1680-by-1050 resolution whilst this one has the full HD 1080p display panel which looks very nice in this panel size display. Works and looks great on my Xbox 360 and PS3 through HDMI (using the HDMI to DVI cable)
Also has built-in speakers which is great for those who want to do console gaming (and not have to use a separate speaker, just need to have a RCA audio to 3.5mm adapter) or for those who want to do a quad speaker setup (configured in Windows as a third and fourth speaker).
Pros: Greatest Intel overclocking chip, temps are just beautifully low, can get up to 5GHz on this thing without a hiccup, forget about what bin your chip is all you have to worry about is if you're cooler can handle the heat it will be putting out, and chances are any $50-$100 cooler will do that job
Cons: None, none at all. Well except that stock fan, that stock fan is truly horrible for anything past stock clocks and even at stock clocks, it can get very hot when doing serious work, which is what this i7 was meant for.
Other Thoughts: This processor single handedly destroyed AMD for years to come.
It cannibalized sales of Intel's own Extreme processor line by eliminating its whole point of existence with the introduction of K-series processors, it brought great value to dollar-per-performance ratio with the unlocked multiplier allowing over-clockers to set it to any frequency they like eliminating the FSB wall that once only-premium paying Extreme edition owners were able to experience, all at a fraction of the price.
Future generations of Intel Core i processors just brought minimal performance improvements for desktop users and worse overclocking performance and temps. Clock-for-clock IB is 5-10% faster but also overclocks a lot worse, same goes for Haswell which is 10-15% faster at most, plus the cheaper TIM they used makes temps when overclocking a horrid experience if you plan on shooting for frequencies SB was able to achieve. If you have a K series SB, stay with it and don't upgrade like I did :)