Avoid this like a plague if you plan on getting it for PCSX2.
The half-cache cut-off of the E7xxx from the E8xxx series already resulted in a good 5% performance drop overall, and about 10 to up to 50% in some other games... say like... Gran Turismo 4.
Imagine how much more it'll go down when the cache is again... cut in half?
Intel is not doing any miracles, they are feeding off of the success of the faster wolfdale processors... You should have seen this from a mile ago looking at the price tag of the E8600. Yeah, that thing can go way above 4GHz, but so can E8400 and E8500. E8600 is just slightly easier to overclock. Think... like a rarer E8400 or E8500 or something.