The performance of Cedar Mill is identical to the current Prescott 2M series. Cedar Mill is merely a die shrink from 90nm to 65nm and no major changes were made. Originally there was supposed to be a 6x3 Cedar Mill series that also added VT support but that has been cancelled. There was speculation that the 6x1 might have been given VT support to simplify the product range but that is unlikely. In any case, the 6x1 Cedar Mills were originally planned to launch January 1, but now seems to be scheduled for release on December 27 with Presler as Intel wants to release that last Netburst desktop chips before the year ends.
If you are currently looking at purchasing a 6x0 Prescott 2M, you should definitely consider waiting a few weeks for Cedar Mill. Due to the 65nm process, they only use 79% of the power and also run cooler. They also have nice overclocking potential, with the 661 easily reaching 4.5GHz on a stock Intel HSF.