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According to §2.2 of "Intel® CoreTM i5-600, i3-500 Desktop Processor Series and Intel® Pentium® Processor G6950 - Datasheet – Volume 1" , "Clarkdale" CPUs on "desktop Intel 5 Series Chipset"s (including H57) support 1 PCI Express Graphics (PEG) x16 link only. Two PEG x8 links are supported using P55 or P57 chipsets. Using a "workstation Intel 3400 Series Chipset" you may choose between one PEG x16 or one PEG x8 (graphics or I/O) and one PCIe x8 (I/O only) link. In the section "P7H57D-V EVO specifications summary" of ASUS P7H57D-V EVO manual (e5278_p7h57d-v_evo_v3.pdf), they state that "dual" PCIe (x8 & x8) is only support by Intel CPUs w/o integrated GPU. So, your configuration is not supported using "Clarkdale" CPUs on H57 mainboards. http://download.intel.com/design/processor/datashts/322164.pdf
Ok. lets go for 3420.
I dont know, why and how Clarkdales PCIe configuration is limited by chipset. So, make sure to contact your 3420 mainboard vendors support beforehand, to get confirmation on your setup. Let us know, how your experiment plays out.. ;-)