Intel provides two registers in the Sandy Bridge CPUs where you can read the VID voltage and the power consumption. VID voltage is not the same as actual voltage. VID voltage is the amount of voltage that the CPU thinks it needs and actual voltage is what you set in the bios less any vdroop. If the voltage is set to AUTO in the bios, CPU-Z actual voltage and RealTemp VID voltage might be very similar.
I also included the data coming from the power consumption register. Based on burebista's testing, I'd have to say that number is not 100% accurate. If Intel is not using actual core voltage to determine power consumption then it won't be accurate. It's too bad Intel has decided to use some sort of VID based approximation for both of these numbers.
If VID and actual core voltage are similar then the power consumption number is probably very accurate. If these two values are different, I don't believe power consumption will be accurate. I asked for some feedback and more testing in a thread here a while ago but no one responded last time I checked.