First OC and looking for feedback

I have read what seems like every thread here and elsewhere on the Internet regarding overclocking. After what I felt was at least a comfortable working knowledge of what I was getting into, I attempted my first OC. I would appreciate it very much if the "experts" here could critique my OC and give suggestions on how to improve upon it. Thank you in advance and be nice, I'm an OC virgin  

System Specs:

Gigabyte GA-X48-DS5
Intel Q9550 E0 stepping
Zalman CNPS9500
EVGA GeForce 9800 GTX+
8GB G.Skill PC2-9600
Antec 900 + 650w PSU

Here are the BIOS specs:

Robust Graphics Booster [Auto]
CPU Clock Ratio [8X]
Fine CPU Clock Ratio [+0.5]
CPU Frequency 3.23GHz (380x8.5)
CPU Host Clock Control [Enabled]
CPU Host Frequency (Mhz) [380]
PCI Express Frequency (Mhz) [100Mhz]
CIA2 [Disabled]
Performance Enhance [Standard]
System Memory Multiplier [Auto]
Memory Frequency (Mhz) [1066 1216]
DRAM Timing Schedule [Manual]

Standard Timing Control
-------------------------------
CAS Latency Time [5]
DRAM RAS# to CAS# Delay [5]
DRAM RAS# Precharge [5]
Precharge Delay (tRAS) [15]

Advanced Timing Control
-------------------------------
ACT to ACT Delay (tRRD) [4][Auto]
Rank Write to Read Delay [4][Auto]
Write to Precharge Delay [8][Auto]
Refresh to ACT Delay [68][Auto]
Read to Precharge Delay [4][Auto]
Static tRead Value [6][Auto]
Static tRead Phase Adjust [2][Auto]
Command Rate (CMD) [2][Auto]

Clock Driving of Skew Control
-------------------------------------
CPU/PCIEX Clock Driving Control [800mV]
CPU Clock Skew Control [Normal]
(G)MCH Clock Skew Control [Normal]
System Voltage Control [Manual]
DDR2 OverVoltage Control [Normal]
PCI-E OverVoltage Control [Normal]
FSB OverVoltage Control [Normal]
(G)MCH OverVoltage Control [Normal]
Loadline Calibration [Auto]
CPU Voltage Control [1.25000V]

Here's a screenshot of Prime95 in action from this afternoon. It ran for 5 hours without any hiccups and core temps never went over 58*C, which, as I understand it, is actually very low for 100% load for that long. Click for a larger pic.



Here's what I don't understand, even though BIOS says the CPU is running at 3.23 GHz (as well as Windows), CPU-Z only shows a multiplier of 8.0 (instead of 8.5 like BIOS) and hence a CPU running at only 3.04 GHz. Also, CPU-Z, as well as CPUID Hardware Monitor only show vcore at 1.2x during 100% load, despite having it set at 1.25000V in BIOS. As I understand it, this is vdrop, correct? The thing is though, it seems like no matter how high I set the BIOS, the vcore reading under full load only goes up to 1.2x. Of course, I didn't exceed the Intel rating of 1.3625v in the BIOS, so I don't know how that affects what CPU-Z and CPUID reflect.

Thanks again for taking the time to read and (hopefully) provide constructive criticism!