I assume yours is a mobile Pentium 4 3.06GHz. When running on battery, it runs at 1.6GHz according to Intel, so-called Intel Enhanced SpeedStep technology.
Also, I know that with desktop HT processors, if HT is enabled, BIOS and utilities like WCPUID should report 2 processors (but both with the same speed). I don't know how it should be reported with a mobile version.
I don't think there's anything wrong with your CPU. You could check whether HT has been enabled in BIOS.
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