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As mentioned, K is unlocked which means it can be overclocked - the non-K series can't be overclocked (as can only overclock by changing the fsb - which has a very low wall on all boards).
I wonder if this will always be the case with these CPU's. I know it's a different architecture but would hope that future motherboards would allow higher FSB speeds (or is the low FSB limited by the CPU?).
As mentioned, K is unlocked which means it can be overclocked - the non-K series can't be overclocked (as can only overclock by changing the fsb - which has a very low wall on all boards).