My board is a Gigabyte GA-Z68XP-UD4 (not sure what rev) F6 bios and I have Corsair Vengeance 4x4GB blue (not sure what speed, most likely the dual channel ones).
No where on the compatible memory list does a product number start of with "CMZ..." (Vengeance product line), but I have had no problems with my ram and my system properties says 16 GB. Am I getting the most out of my memory?
Compatible has two meanings. First is it listed on the Manufacturers list of memory they certify as being able to work with the product. Second is a bit broader and is; does it work as designed with the product. If you have memory that is not "listed" it can be because it was never tested, may require you set the operating parameters in the bios (not auto detected) or some other variance. Many times the MB list is incomplete or a bios update expands it but the web site list does not get updated. Bottom line is if you have set the desired timings and voltage in the bios and the system runs it is probably good to go. If you have any doubts run memtest for 24 hours. Then if it is a clean run you can be sure all is well as far as compatibility is concerned.
Compatible means that both the CPU and MOBO can run the memory successfully at either 'SPD' or 'Rated' Frequencies, CAS Timings, Density, Voltages, and Type.
QVL - means nearly zip above 'Compatible,' and by no means at all is QVL memory good it means it's been 'tested' and is compatible (works). The problem is there's sooo many different sticks and kits that it's impossible to test them all.
If you are referring to the Corsair CML16GX3M4A1600C9B then yes it's a fully Compatible set of memory for your listed MOBO and any Sandy or Ivy Bridge CPU.