<< I was wondering if anyone knew anything about this. Supposedly Intel had a prototype of one that performed very well and used less power. Is this true? I'm just wondering because I heard someone mention the development. >>
Correct. Intel did have a prototype of a clockless CPU a long time ago, but decided not to use it because CPUs-with-clock were easier to design and manufacture.
Problems with clockless chipdesigns form the extremely complex development. Since there is no clock to coordinate the operations, it is the design itself, the structure, which must ensure that all operations are carried out in the right order and at the right time.
A single flaw in the design will have serious repercussions, possibly resulting in a total failure of the CPU to work.
However, the performance to be gained from a clockless CPU are rather high (there is no clock to a) hold up operations while others are being completed so everything goes literally as fast as possible and b) there is no die-size wasted on a clock (which might result in a 1/3th decrease in the number of transistors).
Clockless designs are used for chips which are employed in audio-systems and similar devices. The P4 also has some parts which are clockless.
However, designing a completely clockless CPU is still a rather challenge. The economical climate does not promote the investment in such a design either, so we won't see any clockless CPUs anytime soon.
What we will see, I think, is the use of more clockless parts in future CPUs.