Elite Bastards posted ASUS Maximus II Formula motherboard review. Here's a bit:

In a sense, it's difficult to find new things to say about releases from ASUS' Republic of Gamers motherboard series; such is the consistent quality that they have exhibited over the past year or so. As per previous offerings, aesthetically the Maximus II Formula looks reasonably stylish, the board layout is pretty much perfect, the overclocking options are exhaustive and offer plenty for both beginners and seasoned veterans, and performance is exactly as you'd expect. In other words, a comprehensive and well-rounded package for the enthusiast is on offer here.

The biggest addition to the Maximus II Formula besides its employment of Intel's latest P45 chipset is arguably the introduction of the SupremeFX X-Fi, utilising Creative's SoundBlaster MB software to make the best use of the Analog Devices audio processor that has been a regular presence in previous Republic of Gamers parts. As I mentioned previously, your feelings about this addition will depend to some degree on how you perceive Creative's software, but if nothing else the addition of support for EAX effects up to version 4.0 (with EAX 5.0 support notable by its absence) will be welcomed by many gamers, and it's hard to complain about an addition of functionality which puts this offering a cut above many others in terms of on-board audio.

Overall then, the Maximus II Formula is another excellent offering from ASUS which is really quite hard to fault. However, considering that at its core it features Intel's mid-range P45 motherboard chipset, I can't help but wonder if many will balk at the asking price of around £180 in the UK. This is particularly true of anyone looking to run a CrossFire multi-GPU configuration, who would do far better to pick up an Intel X48-based motherboard to enjoy the benefits of its additional PCI Express 2.0 lanes. Indeed, from looking around even ASUS' own Rampage Formula part (sporting DDR2 support on an X48 chipset) is available at a very similar price point, leaving the Maximus II Formula to battle it out on little more than that SoundBlaster MB functionality and a few other new additions introduced alongside P45 parts. Personally, I'm not quite sure that would be enough to tempt me away from an X48-based solution.