Pros: Fast, fairly cheap, overclocks well
A great way to get into the X79 chipset for cheap.Has a limited multiplier (37-44x)so you have to overclock it the old way if you want to go beyond the range, by tweaking the straps (kinda like the FSB), but leaves the BClock (which controls the other hardware untouched). It overclocks well, I was able to get my chip up to 5.0Ghz under water. It's a great chip if you want to reap the benefits of X79 and also be on a socket that will have some longevity. The only cons are: it uses more juice than the i7 2600K and can be a little slower clock per clock (check the review sites for more info). But, I don't think anyone will notice the difference.