"What makes you think that the mobile design could outperform the hammer line?"
Banias has a pretty high IPC, according to Anandtech it's higher than the PIII. Despite having a 20 - 50% longer pipeline, Banias still maintains a significantly higher IPC than the Pentium III, which is not an insignificant achievement. http://www.anandtech.com/mobile/showdoc.html?i=1800&p=4
Now the PIII and the K7 had roughly the same IPC. The Hammers can achieve about 10% to 15% more than the K7 due to increased bandwidth to the L2 and the embedded memory controller. So it's not impossible that some hypothetical desktop version of Banias/Dothan would have similar, if not better, performance as the Hammers. Possibly at lower power.
AFAIK, no one has matched a Pentium-M and an Opteron or A64. It would be interesting...
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