I'd like to build one of these bad boys. I really like the CPU in theory, it can handle a lot with a fast clock speed. I've built Dual E5-2640's in the past in 2U Chassis without much hassle, so what should I expect from these processors?
Other than cost there is not real pitfalls. We have a large number of high wattage stuff in use, we are currently using the 2690v2's for clients due to the extra 2x cores, lower wattage and just a hair slower.
We deployed a good number of the older non v2 2687w's and wouldn't dream of tossing them into a 1u / using a 1u blower fan. I would suggest getting something like this https://www.superbiiz.com/detail.php?name=FAN-R14 (assuming your mobo is a narrow HSU) or the R15 if the bigger one (though on the bigger ones we prefer intel's active heatsinks).
Keep in mind that some of the dual 2011 mobos do not support 150W cpus, so keep an eye out on that (usually they have dual 8 pin power besides the main ATX power plug)