Tiny app that displays CPU frequency / load in notification area

My rig setup:

Core i7-860 2.80GHz
Gigabyte board
Windows 7, 64 bit

I'm currently using Real Temp, which displays the temperature of the CPU in a nice little icon in the system tray / notification area.

Now I'm looking for a similar app that does the same for the CPU's actual running frequency and it's load. I know Window's native Task Manager can display CPU usage with its Performance Tab, but it also takes up space in the task bar. It doesn't shrink to JUST the notification area.

Is there such an app that's tiny, quick, and lightweight?

On a related note, does my CPU have the feature to vary its frequency depending on load or even user preference? I'm not talking about overclocking here. I haven't OCed my CPU in the BIOS yet, but I guess I'm asking if this processor has some sort of "Speedstep" technology found in laptops. Or does it simply run at 2.80 GHz all the time?
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More about tiny displays frequency load notification area
  1. All processors for desktops have speedstep/cool n quiet and have for years now, so unless something is set wrong in the BIOS or within Vista/7 power management it should be downclocking to save power while idle.

    I know cpu-z when minimized to the taskbar in Vista will show current clock speed, but I'm not sure how that would work within 7's new taskbar system that features icons rather than text.
  2. I use sidebar gadgets from www.addgadget.com they do all this.
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