Is that a really bad correction factor? What does that mean?

I'm running a Phenom 9950 @ 3.25Ghz and an XFX9800GX2 overclocked a bit.

Does that correction factor affect what I'm awarded?

Nothing to worry about as DCF does not effect points awarded. It is used by the scheduler to decide when and how much work to download to your PC but seeing as there is a hard limit of 2 WUs per GPU for this project the DCF does not matter.

For reference, on my GTX 295 where each internal card is clocked to process a GIANNI_BIND in 8 hours I have a DCF of 5.266363.

This would normally mean that my card is performing poorly but that really isn't the case ... as far as I now only a GTX 285 can beat this on a 1 to 1 comparison but that still only gets a GIANNI_BIND done in 6 hours.

I assume that because it has no effect on this project that the GPUGRID team does not waste time setting their initial duration estimates.

http://www.boinc-wiki.info/Result_Duration_Correction_Factor
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Thanks - Steve