The main drawback of the Q8200 is the 7x multi, which will make overclocking past 3.2GHz difficult.
At stock it should be similar in performance to the Q6600. Its clocked slightly lower (2.33GHz vs 2.4GHz) and does have a smaller L2 cache, but the 45nm process is ~5% faster per clock than 65nm so that evens things up somewhat.
Being 45nm based it'll also run a lot cooler than the Q6600, plus it has SSE4.1.
So basically, for anyone looking at serious overclocking, the Q6600 remains the best choice. The Q8200 however is no 'POS', it does have several advantages over the Q6600 as I pointed out, its just not suited for heavy overclocking.