This can be measured in a lot of ways. Typical for some categories listed below:
Typical home-end clock frequency is 3.0-3.6 GHz without any kind of overclocking.
Typical MiPS is averaging nearly 100,000 (This is getting phenominal!)
Processors are approaching the TFLOP level on the home-end as well.
IPC is 30~ for AMD and 50~ for Intel.
The last 3 are far more important in determining a processor's speed than the clock frequency.
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