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Looking at the performance of Ivy Bridge alone we can see how clock for clock, this generation's architecture comes out to be around 10% to 15% faster than its predecessor in most applications, and dead even in gaming. However, when looking at Ivy Bridge as a whole there are two areas where the new architecture really stands out. These are of course the lower power consumption, which due to the new 22nm process makes this chip around 15% more power efficient than the previous generation, all while having faster single and multi-threaded performance. So, even while the Ivy Bridge performance is more of a step forward than a leap, it comes with dramatically improved power efficiency.
The second benefit from this architecture is the new G4000 integrated graphics processors. In comparison to the previous generation IGPs, the HD G4000 is roughly 40% faster in games than the G3000. This allowed us to run Far Cry 2 at medium settings up to 1680x1050 without too much screen stuttering. In addition, the G4000 IGP supports features such as DirectX 11, QuickSync, Advanced Vector Extensions and Clear Video HD Technology. All of which increase the performance of the IGP in day to day tasks such as accelerating video, transcoding and increasing the performance in editing both images and video. Still, the G4000 is still going to struggle when gaming at high settings, but if you don't mind reducing the graphics quality, it can be an excellent replacement for a discrete graphics card.
The 22nm process also improved the overclocking headroom of the processor. In our labs we were able to overclock the 3770K to 4.8GHz at 1.36V, and we could have easily hit 5GHz if we were using a more robust thermal solution. Still, even on air we easily hit the 4.8GHz mark, and while we could boot into Windows above 5GHz, at this point the temperatures were peaking above 78°C so we had to scale it back to a safer temp range. At 4.8GHz, the 3770K was a force to be reckoned with, as it was at times able to surpass even the 3960X. In addition, since this version is part of the “K” series of processors, overclocking was extremely easy. All we really had to do was increase the unlocked multiplier and adjust the voltage accordingly. Overclocking with this method reduces the amount of time one needs to spend in the BIOS.
Overall, Ivy Bridge inches up the performance of Intel’s processors, while taking a leap in terms of power efficiency and offering a stronger integrated graphics unit. All of these make Ivy Bridge an excellent replacement to Sandy Bridge, and a worthwhile investment at $313.

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i like that you could overclock this IB CPU to nearly 5 ghz with only a 1.38 vCore (iirc). my SB has to run at about 1.42 at 4.7ghz