Summary: If you have a dedicated graphics card, don't want to overclock and your motherboard supports this chip you can save 1/4 to 1/3 the cost of the comparable chip with integrated graphics. Performs like a champ. Very happy with purchase!
Summary: I purchased the cpu based on a baby dragon II build (esxi server). I was looking at higher versions of the 1200 E3 line up and can say that at its price point and spec are perfect. You will be spending a lot more with lets say a 1270 or 1290 v2s then with the 1230 and not get a whole lot more to show for the $$$. When you look at the specs and price it just made sense to go 1230. the gains were to small at too high a price for the higher E3 12xx CPUs.
Pros: The Ultimate processor solution. This thing is an i7 without the useless bells and whistles that go unused in a gaming rig. For the price of an i5, you get the hyperthreading without the added bulk of integrated graphics, which means cooler CPU, and less power needed. I use this to play everything from GPU bound games like BF3, to CPU bound games like WoW, and it doesn't flinch. I recommend this to anyone building a gaming rig. you just can't beat the price/vs perform...
Cons: Having to explain to your friends that you have a Xeon.
Summary: Why would someone need an integrated graphics in an overclockable CPU escapes my imagination. And yes, I have a Sandy Bridge 2600k with integrated graphics for nothing which consumes more power, needs a specialty cooling solution and it's still just mildly overclocked for no perceptible reason. I had enough of that bull and took advantage of this 'hidden treasure' from Intel's lineup.
Excerpt: I bought this processor from Microcenter for $210. After reading some reviews online, it seems to be a good processor. It has 4 cores with 8 threads due to hyper threading. It is essentially an i7 3770 without the integrated graphics. You cannot overclock this processor, however. It performs well for the cost and I like the Xeon branding.