I'm not making any predictions, just noting that their starting comparison point is lower.
The problem is at their finishing point, 45 nm, Intel has hik/mg and AMD still has poly gate. Case closed.
AMD will get minimal frequency and power benefit from the shrink to 45 nm. They probably have far more headroom from simply going back and doing the spade work on that rushed POS called the 65 nm K8L core they skipped the first time around.