Unless it's a new revision I don't think the Core i7 3970K will really be any interesting for us overclockers. Ivy Bridge-E only coming in Q3 2013 is a bit of a disappointment; we're stuck with the boring Sandy Bridge-E for a while.
If you're an enthusiast hungry for CPU computing power, Intel will soon have something new for you. However, do not expect too much before the third quarter of 2013. Our sources close to the heart of company told us numerous times that due to lack of AMD offering of high-end performing desktops and workstations, there's no incentive inside Intel to push for top performing CPUs.
First and foremost, in a couple of weeks, Intel will introduce its final Sandy Bridge-E part, the Core i7-3970K. This processor will be clocked at 3.5 GHz at stock, identical to the mainstream Core i7-3770K, based on the 22nm Ivy Bridge architecture. Turbo mode however, is set at 4.00 GHz and will offer a 100MHz boost over i7-3770K, becoming the fastest Intel processor on offer.
Do note that Intel will not offer any changes on the platform side of things - both Sandy Bridge-E (i7-39xx) and Ivy Bridge-E (i7-49xx) processors will connect to the Waimea Bay platform, more known as the X79 chipset. This also explains why motherboard vendors from the Far East are preparing not one, but two motherboard refreshes based on the X79. First refresh is scheduled to appear with the i7-3970K (from limited number of vendors), while the second refresh is scheduled for Computex Taipei 2013, with the arrival on market in September/October 2013 (with the launch of Core i7-4930, 4960, 4970 and the rumored 4990 part).