HotHardware, PC Perspective, Elite Bastards, Neoseeker, Guru3D, OCC, Legit Reviews, Techwarelabs, TechReport, Benchmark Reviews, TechSpot, Bjorn3D, and DriverHeaven have posted a review of the AMD Phenom II 965 Black Edition CPU:

The Phenom II X4 965 is an AM3 processor, which sports a 938 micro-pin grid array (micro-PGA) configuration. This processor, as with all of the Phenom II X4 line, is manufactured using a 45nm process and has 758 million transistors. One difference between this and the Phenom II X4 955 is that the X4 965 has maximum TDP of 140 watts, using a voltage of 0.875 - 1.5v with a maximum operating temperature of 62C degrees. The Phenom II X4 965 does support HyperTransport 3.0 for up to 37.3GB/s when paired with DDR3 1333MHz memory, and 33.1GB/s when paired with DDR2 1066MHz memory. The cache breakdown for L2 is 2MB, which translates to 512KB per core, and the L3 is 6MB shared between each of the cores. The Phenom II X4 965 is clocked at 3.4GHz (200MHz x 17), and is a "Black Edition" processor - meaning that the multiplier is unlocked, so higher overclocks can be attained with the right tweaking.

My sense is that AMD has taken a bit of a risk here by introducing a CPU with a 140W TDP at this point in time. They may take flak from some quarters for doing so, and given the fact that Intel's competing product has a 95W TDP, it's not hard to see why. Still, our testing showed that the Phenom II X4 965 isn't a total embarrassment in the peak power draw department, and it actually managed to beat out the Core 2 Quad Q9550 in our key power efficiency metrics thanks to strong performance and low system-level power draw at idle. The X4 965 is also a little faster overall than the Q9550, particularly in floating-point heavy applications like video encoding and 3D rendering. Yes, you will want a relatively large cooler to keep the X4 965 quiet under load, but that's also true of any number of high-end CPUs from Intel and AMD at present.