Man of Honour
Different core/thread count for a start, different cache amount. They both turbo to 4.0Ghz so no different there between the two. Neither require them to be overclocked to 4.0GHz though and the money saved is that they both turbo at 4.0GHz but the additional cores allow for faster render times which because they are constantly being used soon adds up at work.
In regards to TDP, the Xeon are lower TDP but they are lower turbo for the same core count as well. They are no more efficient really at the same core frequency. Take the Xeon E5-2650 which turbos at 3GHz that TDP is still only 105w and the 6950x is 140w. That is a large IPC difference for TPD level.
In regards to overclocking anyways. We don't overclock any CPU due to warranty which would be void and no good if anything goes wrong. Could we get more performance to overclock to 4.4GHz where possible, of course but it is a works machine and replacing them would be costly so that is a no go and also a reason why Overclockers are selling CPU's with warranty at higher costs because that where the market is.
The extra £400 on top of the cost of the 6950X to get Overclockers to provide the system at 4.4GHz with warranty isn't bad however we have had these prior to the bundle release. In any future build we would certainly look into these although the £400 difference would be better for 64GB RAM over the 32GB between the CPU overclocked or not.
You do realise that not all the cores turbo to 4.0 on these CPUs.
Taking the above into account you would get more performance from an 8 core running @4.0ghz than you would a stock 6950X.