The dual core part appears to be lacking some features though. there will be no Hyper Threading Technology nor will there be any Turbo-Core 2.0, not that it matters as this will primarily for overclocking anyway. The part is on Intel's 32nm fabrication with 3MB of L3 cache, Intel HD2000 IGP with a TDP of 65W.
Chart showing the placement of Intel's CPUs
I am unsure of how feasable it will be to use this lower end product on the expensive P67 or Z68 motherboards, but there does seem to be some good value low end Z68 motherboards that will make an ideal partnership with the i3 2120K such as the GIGABYTE GA-Z68MA-D2H. It would appear that release may be soon and seems to be priced at $150 (likely to be around £100-130).