The fastest I have ever heard of a consumer CPU going is a P4 at 8Ghz.
Never botherd to take my Q6600 past 3.6Ghz, no real need.
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If the automobile had followed the same development cycle as the computer, a Rolls-Royce today would cost $100, get a million miles to the gallon, and explode once a year, killing everyone inside.
PSA
Right now it looks like they are only getting up to 5.6ghz.
I'd assume that as the process matures they will be able to get up higher with the overclocking, but since nehalem is coming out soon, the current 45nm process won't be able to mature much.