Phenom II is a lot of things. Performance leader is not one of them. What it is though, is a return to value and competition with Intel’s mid-range at stock, and competition with Intel’s high end when overclocked.

The Phenom II really reminds me of the Barton core. It’s not the fastest, but it’s fast enough at the right price. I did some quick & dirty benchmarks of the Phenom II 940 Black against Intel’s latest and greatest Intel Core i7 just to get a point of reference for cost to performance. Forgive my fail Excel graphs…

So basically with a little bit of overclocking, enthusiasts can get about 90% of the performance of a Core i7 Extreme 965 for a fraction of the cost. Sure you can do it on the Intel side too, but at least AMD is an option again.