snipped from this thread:
http://forums.anandtech.com/showthread.php?t=2140386
really the whole 1.65v vs 1.5v thing is just that the 1.5v memory is made of better modules than same kit rated at 1.65v.
just because something is 1.65v doesnt mean its for bloomfields only. the whole perception with nehalems and running high dram voltages frying cpu's is a function of vdimm and vtt.
basically with nehalems according to intel, you never want vdimm - vtt = .5v or more.
i.e.
vtt 1.21v
vdimm 1.65v
1.65 - 1.21 = .44 ok
vtt 1.21v
vdimm 1.75v
1.75 - 1.21 = .54 too high
vtt 1.33v
vdimm 1.75v
1.75 - 1.33 = .42 ok
this difference of vtt and vdimm voltage is what causes the memory controller on nehalems to become 'fragile' to vdimm increases when using custom voltages.
obviously when you use 1.5v modules or even better, 1.35v, you wont be running into this problem unless you are absolutely trying to squeeze everything out of it.