You pay for what you get, I still doubt this thing will be cheaper than the Core 2 quads, even if they are released cheaper Intel will most likely lower the price of there cpu's to compete with the Pii.
Saying that there "940" i'm guessing is the higher end of the chip runs faster than the Q9550, and that overclocking it will put its performance up to a stock clocked i7, lower model mind that not the extreme model, is like saying that a regular joe can compete in the olympics if he uses steroids. Its giving an advantage to the other, they don't say anything about its performance stock vs. stock i7 or OC vs. OC i7 because they didn't make a processor to compete with it, they made a cost effective processor that fits between Q9550 and the i7. Its nothing special, just decent for price over performance.
It should have been released sooner, when the Q9550 was top of the line, you can either pay a decent amount for a good processor or pay alittle more for a great processor, thats the bottom line basically.