Anyone know if this is a solder down CPU or just an odd CPU in a socket?

It's a QFP (soldered CPU) on an adapter into a PGA (pins) socket.

You see them occasionally. There is a listing for one somewhere in Europe ATM, not sure if this is the one. A 630 I think it was, same as what you're showing.
 
I'd keep it like that, it's quirky. Plus it's a 33MHz, so will certainly run at 40MHz, especially with a little heatsink.
 
Worst case you can desolder what's there and fit a socket.

But if you're super worried,I'd keep looking because that one is f-ing expensive.
 
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