Xeon E5540 's Advantages
Higher base frequency (2.533GHz vs 1.1GHz)
Larger L3 cache size (8MB vs 4MB)
Intel Xeon E3 1220L v3 's Advantages
Released 4 years and 6 months late
Higher specification of memory (1600 vs 1066)
Newer PCIe version (3 vs 2)
More modern manufacturing process (22nm vs 45nm)
Lower TDP (13W vs 80W)