Core Speed and Multiplier dropping HARD after overclocking?

Hey guys I had overclocked my i7-2600k on a sabertooth z77... never had this problem before... just after i guess i installed an SSD... and installed a new os and **** it started happening (im guessing) on CPU-Z it shows the multiplier at x16... and core clock at 1600... what is going on? i clocked at 1.33volts at 4.5ghz... and ran prime95 blend for about 6 hours no problem... i've attached a picture

Give it a load with CPUz open. If the clock jumps up, that is EIST/C1E doing what they're supposed to and saving you some energy downclocking when the CPU is idle.

I guess it was EIST, because i disabled it and now its staying at 4500... Also I have a question though... i watch live streams on twitch.tv... and sometimes it starts to lag because the clock is still on 1600 when im watching live streams... it only kicks up to 4500 when i actually get into a game...

Do you save considerable amount of money on your electric bill by turning on power savings features on? I probably have the computer on 14 hours a day, every day... will it significantly lower the life of my cpu?

Doesn't save a ton (maybe a few bucks a year), won't do anything involving the life if your CPU.
If you have a reason not to run EIST/C1E, by all means turn it off.

Yes, that is normal with power saving settings in the BIOS turned on.

I actually leave them all on since it doesn't seem to affect stability on my overclock at all, and it reduces the voltage to less than a volt to the CPU when it's not loaded (which is nice). Plus it amounts to about 15W of power savings which about 12 hours a day is about $5/year or something.