Xeon X3470 's Advantages
Higher base frequency (2.933GHz vs 2GHz)
Intel Xeon E3 1240L v3 's Advantages
Released 4 years and 8 months late
Higher specification of memory (1600 vs 1333)
Newer PCIe version (3 vs 2)
More modern manufacturing process (22nm vs 45nm)
Lower TDP (25W vs 95W)