The i7-980X uses 32nm fabrication tech, features Hyper-Threading and Turbo Boost, is being crafted for the X58 platform, and supposedly operates at 3.33GHz. Meanwhile, the i7-970 doesn't bear the Extreme Edition branding, and Fudzilla says it has a clock speed of 3.2GHz. It also features Hyper-Threading, Turbo Boost, a 6.4GB/s QPI, supports 1066MHz DDR3 memory, and has a TDP of 130W.
Rumors suggest the i7-980X will launch sometime next month and Intel will wait until the third quarter before releasing the i7-970. Other speculation indicates that Intel will introduce quicker Lynnfield and Clarkdale processors in the second quarter as well, including a 3.06GHz i7-880, a 3.6GHz i5-680, and a 3.2GHz i3-550.