Xeon E5345 's Advantages
Higher base frequency (2.333GHz vs 1.238GHz)
Lower TDP (80W vs 300W)
Intel Xeon Phi 7120P 's Advantages
Released 6 years and 7 months late
Higher specification of memory (DDR4 vs DDR3
Depends on motherboard)
More modern manufacturing process (22nm vs 65nm)