compuwiz,
don't confuse people with complicated (and wrong) explanations.
Again, here's how it works:
The multiplier you set on the mainboard (by jumpers, switches or BIOS) is just a setting fed into the CPU on reset. In case of socket-370 or slot-1, this is a four-bit binary number.
The CPU reads this value on reset, and then sets its integrated clock multiplier circuitry to whatever it was designed to do with this setting. Intel processors ignore the provided setting altogether, they are factory preset to use a constant multiplier.
Only engineering sample Intel CPUs actually read the multiplier setting from the mainboard. Newer ones remap the old low settings to multipliers 8.5x and higher, but still use the same four pins. Jumper/switch type mainboards can provide any multiplier, and in jumperless boards, you might have to set a low multiplier to get one of the new high ones (like setting 4.5x to actually get 8.5x). Again, this is needed for engineering sample CPUs only.
The mainboard, let alone the chipset, isn't involved in the generation of the CPU internal clock AT ALL. This high clock exists only inside the CPU. Ain't no such thing as external or internal multiplication - it's been internal to the CPU ever since the 486DX2 first used a higher core than bus clock.
What this means is if you walk into a shop and buy an Intel CPU today, don't care about what multiplier it "requires" and what your mainboard can be set to. Your new CPU will ignore whatever you set there anyway.
Regards, Peter