Do i have a auto overclocking problem?

Hi everyone,
I recently built my new pc. Since i built it i have tried to use Asus' built in auto overclocking feature.
successfully.

upon rebooting i got the message that my processor speed had jumped up 30%

(i have a core i7 2600k (3.4ghz)and a Asus pz68v-pro mobo)
When i then viewed the cpu frequency information in the asus program the mhz had dropped from arount 3400 to about 1600mhz x100.3

I then reset the cmos jumper and rebooted and the mhz frequency was the same! i then downloaded cpu-id Z program and the program reports that i do have a core 0 clock speed of 1600mhz
i can't see why the system is reporting my cpu speed to be around half of what it is! i have also tried to reset the bios setting and undo the overclocking settings but it still comes up as the same speed.

I then ran the windows experience index and my processor score had jumped from a 7.6 to a 7.7

I had cpuZ open at the same time, and during the testing of the components the speed did go up to about 3.8ghz

is there a problem with my mobo or is this some sort of noob error?

thanks,

Kane
ps: i didnt manually adjust any settings