After doing so research into this, it seems that unless you are planning to get a 2 processor mobo, the i7-980x is the better bang for the buck.
Specs out the same, though runs a bit hotter, but is also directed more to users like us.
Xeons are nice, but pretty pricey. A dual Xeon system would be pretty sweet, but also cost more than your car…lol
Edit: I should add that I’m very satisfied with my new dual Xeon system, swallows everything I can throw at it and runs super cool, right now Core temp shows Low: 14-20°C, High: 24-36°C on a normal 30 track mixing session with Noctua U9DX 1366 coolers running at ultra low speed (they barely manage to spin up) in an Antec take 4 case. I’m actually thinking of unplugging one of the chassis fans to make it even quieter.
Looking at raw power then yes, an OC:d 980x looks like the obvious choise.
As for the Dawbench tests, my system performs similar (200-230 rxc:s between runs @ 64 samples) to the 980x running at stock speed for €200 less processor wise, and I can imagine that you could fry some bacon on the 980 at 4 GHz, so taking cooling into account things aren’t that black and white.
But I agree that if you can wait, a Sandy bridge is probably the way to go, and the prices will surely drop on older gen. processors after launch if you’re on a budget.