I was able to oc my 8IPE1000Pro with 2.4c up to 3.2 (F6 bios), but with my 3200C2 DDR, it was not as stable as I would like. (I have zero tolerance for anything less than "rock stable.") That is, I could boot into WinXR ok, but some programs crashed. I think with faster memory, like 3500 or 3700 you could prob oc this board to 3.4. On the other hand, if you were looking to buy a board in order to oc a 2.4c to 3.4, I would prob buy an ASUS. I bought this Gigabyte board because it is very stable, it has more features (like firewire) than any other board at this price, it does oc very well, and it has dual bios, which has been very helpful several times. I had an Albatron mobo without dual bios (some Albatron's do have dual bios) which corrupted when flashed and I had to RMA the whole board. That was a pain.
About CPUID: Both CPUID and CPU-Z read the F6 and F7d bios as F4, even though it reads the bios date correctly. I read some other threads about other mobos in which people were saying CPUZ was misreading the bios version. Maybe when you flash the bios it doesn't change the identifying label. I trust the bios version # which shows during boot.
I am very happy with this board. I think the reviews of it are good, but not overly enthusiastic because Gigabyte did not activate PAT on this i865 board. As a result, others like the Abit and Asus, out-perform it on benchmarks (but not by much). But in everyday use, a 3-5% difference in performance is not going to be noticeable. On the other hand I have read many unhappy comments on threads and Newegg reviews about the Abit IS-7, especially the sound quality and stability. A fast board is useless if it is unstable. The 8IPE1000 is plenty fast, and I would gladly give up 10% of performance for stability.