The quad core versions of Westmere EP aren't exactly cheap. The E56xx line is reasonably priced, being 100-200$ cheaper than Gainestown but there is HUGE gap between X56xx and E56xx series. For example, there is no 2.8GHz or 2.93GHz versions, they are jumping like bunnies. From 2.66GHz to 3.06GHz and from that to 3.46GHz.
Hex Core 56xx:
Xeon X5680 (3.33GHz, 130W, 6.40GT/s QPI): $1,663
Xeon X5670 (2.93GHz, 95W, 6.40GT/s QPI): $1,440
Xeon X5660 (2.80GHz, 95W, 6.40GT/s QPI): $1,219
Xeon X5650 (2.66GHz, 95W, 6.40GT/s QPI): $996
Quad Core 56xx:
Xeon X5677 (four cores, 3.46GHz, 130W, 6.40GT/s QPI): $1,663
Xeon X5667 (four cores, 3.06GHz, 95W, 6.40GT/s QPI): $1,440
Xeon E5640 (four cores, 2.66GHz, 80W, 5.86GT/s QPI): $774
Xeon E5630 (four cores, 2.53GHz, 80W, 5.86GT/s QPI): $551
Xeon E5620 (four cores, 2.40GHz, 80W, 5.86GT/s QPI): $387
Please note, that I didn't list the
L series parts, as they're clocked lower, and in the case of the Hex core, it's the same price as the X5650.
As you mentioned, there's gaps in the clock speeds in the Quad core models, but it's to help push the sales of the Hex core parts (look at the pricing from the top down rather than core count). It should make some sense as to why (prevent parts from not being sold, and more importantly, also works out in terms of production capabilities - fewer P/N's means they can better meet production quotas).
As far as "price collision", there's only one instance of it, which is the $1440 mark (2.93GHz Hex and 3.06GHz Quad).
Sure that would mean 130MHz bump in clock speed in low-end octo (assuming they keep the same pricing as E5620 costs about the same as E5520) and lower price in 2.66GHz octo but SP hexa core would be cheaper (at least 800$ for two quad core CPUs) and possibly faster due clock speed than any octo system so I don't really buy that octo point.
Why would anyone want two extra core at lower frequency for extra $? Octo would be fairly useless. It would top out at 2.66GHz, having slower clock speed than low-end hexa core would.
My guess is that Apple concentrates on hexa core by giving plenty of CPU options, but gives the option for 12-core for the people who need it. Low-end hexa core will likely be faster than base octo currently is, let alone what the W3680 would be... Then 12-core to start from 2.66GHz and likely to have only two options, that and 2.93GHz.
The problem with Dodeca ONLY DP systems, is cost.
Doubling up the processor cost, you'd get:
X5670 = $2880 CPU cost alone
X5660 = $2438
X5650 = $1992
Now lets look at the current system costs:
DP systems
2.26GHz = $746 ($373 * 2), MSRP = $3299. Other costs, including profit = $2553
2.66GHz = $1916 ($958 * 2), MSRP = $4699. Other costs, including profit = $2783
2.93GHz = $2772 ($1386 * 2), MSRP = $5899. Other costs, including profit = $3127.
Just adding in the difference between the existing systems and the cost of the newer CPU's, it's not pretty for the base model @ $4545USD, and in reality, it would be a bit higher, given the drastic cost difference between processors (remember, the margin is applied to the total cost associated with it, and $1992 is noticeably higher than $746. To get a more accurate cost, take the CPU difference, and multiply it by say 0.40, then add that to the $4545.
You get $5043.40. Rounding to something a bit more fitting, you'd get $5049 USD. For a BASE model.

It gets less drastic as you move up in clock speeds (i.e. $6050.20 for the top end X54670 based model, so figure a $6049 price point here; only a $1000 difference at this point), but it should be reason enough to realize that they can't just offer Dodeca's for DP models.
It would make more sense to offer a single Hex (SP), then at least one Octad as the base model to meet the price point ($3300 - 3500 target, based on the existing MP's pricing). It would have to be a pair of E5620's, as that's the closest CPU price point that would be in the right range.
The W3680 based SP system should stay at the $3699 USD price point as the current model (W3580), given the CPU's are the same cost. As it's higher, you avoid collision. User's would need to decide which is the better system for their needs between these two, just as is currently the case. A tad murkier IMO though, given the additional pair of cores in the W3680.
BTW, are the clocks of W3620/40 known? Just thinking so I didn't talk übercrap here

I assume they are fairly high anyway, start from 2.66GHz?
I can't locate a source ATM, but that's about right.
W3620 = 2.66GHz
W3640 = 2.93GHz
This is what I'd expect, given Intel's recent clocks and number schemes any way (i.e. W3530 = 2.8GHz mark, so xx20 and xx40 would be the respective clock below and above this).
