yeah, the whole K thing is a bit of a middle finger. The whole idea of overclocking was to get extra performance without paying extra. Intel locking the chips that you'd actually want to overclock then charge a premium for chips that are already close to the high end of what they are capable of.
In an ideal world we'd be buying things like the 6400 for under £180 and clocking them past the £240 6600.
edit - fixed a typo
It's really sad to hear they've started locking chips. I was definitely around for the whole 775 C2D/C2Q scene but haven't really looked in since then. What drove them to do this? Is it the same with AMD? Didn't seem to be much of an issue back in the day.