What does core speed mean? This isn't the actual speed of my processor is it? And if it is, why is it only reading 1.6 when I haven't touched the bios for anything.
That's a power saving feature. It's more or less a combination of two things in the BIOS that can safely be disabled: Intel Speedstep (also sometimes just called "CPU EIST Function", and another that has "C1E" somewhere in its name.
See how your multiplier is lower than it is set? You must have speedstep on which lowers your multiplier when your CPU is idling. Run a stress test like Prime95 and it should raise up to it's normal setting.
It will run up to it's advertised speed once the CPU is under load (or when you play a game). When it is idle (0-5%) the power save mode kicks in to conserve energy and keep the temperature down. Nothing to really be too alarmed about.
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