I have this motherboard with an I5-2500k clocked at 4ghz @ 1.22vcore.
I'll give a rundown but I've spent the last 2 months working out the voltage controls and their impact, so if you want more info IM me.
Basically there is no "default" vcore. The DVID (Dynamic VCORE) is what you adjust to get to the vcore you want. If you want to find out your "default" vcore, set DVID to 0 and check the vcore reading in the bios. From here, you can start adding or deducting offset in increments of 0.01.
When the system arrived, it came with 0.06+ DVID vcore offset, running at 4.4ghz and about 1.35 peak vcore. I am currently running at -0.1 DVID vcore offset @ 4ghz, giving me a peak vcore of 1.22v. I've done 100 runs of linx, followed by 12 hours of prime blend.
When using negative offset (some people use positive offset, but since I'm running at a relatively mild overclock I'm more concerned with getting a stable O/C at the absolute minimum voltage, rather than pumping in more voltage), I experienced BSODs @ idle because it pushes the vcore down at both load and idle. If you experience this, turn off c3/c6 states in your bios.
I also found that almost no software read the motherboards voltage correctly. I've found a tool called OCCT (overclock checker tool) which monitors vcore accurately - i've compared it to the reading from the touch bios within windows and it lines up. You can use Gigabyte easytune, but it is a bit crappy. OCCT gives you a graph along with min/max values.
Another thing I've found - the change in the DVID offset doesn't always correspond with the actual change in vcore. There was instances where I changed the offset by in increment of 0.01 in the bios (i.e from -0.03 to -0.04), yet my actual vcore changed a different amount (i.e from 1.275 to 1.253). It's been more of an art than a science getting it to a good setting. Even now, I haven't tested below -0.1 DVID but am rock stable with c3/c6 disabled (EIST and C1 states are enabled). I may try pushing up to 4.2ghz again, but I only really play games and 4ghz is plenty for even ARMA2, which is a system hog.
Let me know if you have any specific questions.