I got the same laggy problem too. Technically it's not laggy but extremely slow! Booting to Windows desktop could take 30min. I did few investigations and could think of some trials in last December. I hope someone wiser than me can take it over and find out the fix.
Findings:
POST -> CPU correctly identified, no lag at all at POSTing stage.
Real DOS mode -> still no lag, I can update BIOS under DOS without issue.
Booting to customized Windows PE (2003-based) -> works smoothly too. This PE doesn't have power management feature so the CPU is running 1-core at full speed.
CPUID -> I checked CPUID under WinPE, SSE4.1 and Vt-x is correctly identified so I guess the microcode is imported in the correct way.
The Research:
I did a rather extensive research on the net. Most opinions suggest that laggy of system is caused by CPU power management feature. The fix is to disable everything like: SpeedStep, C1E.... then I did:
Disabled SpeedStep -> laggy as is.
Activated hidden C1E feature with AMIBCP and disabled it -> still the same lag.
Other trials I could think of:
CPU stepping C0/E0 -> @Ctmz34 has confirmed not it. By the way mine is X5450 E0.
Modding from older BIOS version -> didn't able to test. I could find some older BIOS in .exe but no way to extract it to .bin or .rom
Last thing, @oskarha your guide demonstrating directly import of missing microcode 1067A, which is 99% of us who buying 45nm Xeon. But the BIOS already has 1067A, not the latest version of course. I think the good way it to delete the old one on BIOS, then import the updated version to it. Are you doing in the same way?