A simplistic expanation:
vdrop = the difference between your cpu vcore setting and what you see when your system is at idle
vdroop = the difference between the observed cpu vcore at idle and when fully loaded
Here is an excellent article that deals with Vdrop and Vdroop:
Overclocking Intel's New 45nm QX9650: The Rules Have Changed (page 5)
You'll probably want to read the complete article.
Your "normal" cpu V.I.D. is usually displayed in your bios:
CPU Vcore ..................
1.?????...........: [AUTO]
Given the P45 chipset issues (from post #11) with your memory, I recommend the following bios changes:
1) set primary memory timings to 8-8-8-24 for now (it's easier to overclock using conservative memory timings)
2) set DRAM voltage to 1.60 or 1.70 volts (more isn't always better)
3) you can try increasing CPU Vcore incrementally, it's not likely that settings higher than 1.33 - 1.34 volts will be needed
4) set CPU Termination to 0.04 - 0.06 less than your CPU Vcore setting (this might help with stability)
I would start with steps 1 & 2 and try steps 3 & 4 if needed.
Load Line Calibration can be tried later if necessary.
The following are the results on my system with a 48% overclock:
CPU Vcore ............ 1.35000 ........ [1.36875]
PC Health: Vcore = 1.348
cpu-z @ idle
___ = 1.312
OCCT @ load
__ = 1.298 - 1.312 (small data set)
The ET6 screenshot --> Tuner --> Advance --> Voltage is useful because it displays the actual applied bios voltage settings and lets us verify that these settings match the posted bios settings in your template.
Not so pretty but useful picture: