As mentioned above vdrop and vdroop will have an impact on the voltage thats displayed in the bios.
See here
Vdrop
Vdrop is the difference between the selected voltage in the BIOS and the actual idle voltage, typically this is about 0.05V though new P35 boards seem to be a lot less affected by it. THIS IS NOT Vdroop
Vdroop
Vdroop is the difference between idle voltage and load voltage. The droop is actually related to the current draw of the CPU and is a peculiarity of Intel CPU design specs and as such AMD setups don't suffer from it to any great deal. Vdroop gets progressively worse as load more cores up on multicore CPUs. Some recent P35 boards now have the option in the BIOS to override the circuit in the motherboard power circuitry to pratically eliminate Vdroop. Other boards can usually have it overriden by a simple pencil mod, or with the addition of an extra resistor by soldering. 680i boards are notorious for high Vdroop with quad cores.
If you enable load line calibration (LLC) in the bios overclock section, this will lessen the effects of vdrop/vdroop