I tried looking at the specs but they seem very similar, and I'm not sure which is the more powerful or feature rich chip?

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Scalability is the main difference. The 270 can scale to 2 way while the 1212 can go to 1. the leading digit determines the scalability. That seems to me to be the main difference from what I can see. This is given if you were looking at the two models with similar clocks and cache. Made a little comparison chart for you click here if you want it in its own window :)alt text

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