Those two products are in the same level of price (30€), and they have a similar bundle: a fan, retention kit for sockets AM3, LGA775, LGA 1336 and LGA 1156. So we can determinate what cooler is better only by testing their performance.
Contact 29 box:
Freezer Extreme box:
Contact 29 fan:
Freezer Extreme fan:
Test Setup
Core i3 540
Asus P7P55D PRO
CORSAIR TX750
SAPPHIRE 4890
CORSAIR DDR3 2X1Gb 1333 Cl 9
Temp Ambient: 20°C
Results
Conclusion
The tests shows us that the Artic Cooling Freezer Xtreme is a bit better in full, but also the Contact 29 isn’t so bad, and it gives a boost of 18°C from Intel stock and it’s very easy to mount and unmount.
So those two cpu cooler are on tie and if you are searching for a good cooler they are a very good choice.
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You forgot to mention how IRRITATING it is to install Contac 29 but that makes you appreciate it more once you do it.