It does overclock a lot better than most motherboards out there. There's very few motherboards that are guaranteed to hit 650MHz FSB. It performs nearly identical to the P5W DH Deluxe, while costing over 50$ less (even more when you leave out the wifi like i did). Tom's hardware guide did a comparison on southbridges a short while ago that showed the ICH8R outperforming the ICH7R in a few interesting ways, will look up a linky tomorrow at work. I myself really like the light under the motherboard, it doesn't really look tacky or cheesy or anything.
It does have some downsides tho, major of which is the fact it has only 1 ATA channel, which might be too little for some people.