on air? 3.8Ghz... probably. It all depends on your current voltage/temp. Mine is 1.3volts/23C on a overclock from a 530J 3.0Ghz to 3.48Ghz, mobo limited. If it was unlimited, and I raised the voltage a bit, I'd say I could reach 4Ghz no problem. Considering the heat/voltage everyone else is talking about, I'm pretty impressed with my Prescott.
btw, it says that voltage in the BIOS, CPU Informer says I'm running with about 2 volts. CPU-Z verifies that I'm running at about 1.300 to 1.324 volts. I trust CPU-Z and my BIOS.