For that price you get a 3.2GHz chip with a 1600MHz FSB. The CPU uses Socket 771, which is normally used for servers:
The new CPU is based on an Intel Xeon server processor and Intel will use SMP technology enable to Skulltrail to support up to two quad-core CPUs for enthusiast players in the desktop market, according to the sources.
However, with the cost of a Skulltrail platform and two supporting CPUs reaching several thousand US$, the sources expect Skulltrail to break benchmark records, rather than sales ones, although the platform may be popular in the workstation market.