Nordic Hardware reports the upcoming Intel Core i7 processor handles low temperatures with ease:
Our source installed a Core i7 processor in ASUS P6T Deluxe and threw liquid nitrogen at it, and the first tests have shown that the processor can handle temperatures as low as -120°C with ease. No coldbugs have been experienced, but we should say that it haven't tried lower than -120°C so far. Something that may very well happen within the near future.
This bodes well for the extreme overclockers that are sitting around waiting for the Nehalem architecture and even if we have no detailed performance data or even clock frequencies to share, Intel's new architecture is not far behind Yorkfield in regards to overclocked frequencies. That's as much as we could get for now, but we will keep digging!