EDIT: Nevermind, at that price I can't say that.
Anyway, what you are reading is a 1.6ghz clockrate. That means that both cores each run at 1.6ghz... so 3.2 ghz, but again, only for certain purposes!
But don't pay too much attention to the clock rate. It isn't a good indication of your overall workload. I know for instance that a 1.6ghz AMD X2 processor wouldn't be bad.