Confused, the big difference between then and now is that AMD is being adopted in the business market. In the good old days nobody got fired for buying IBM. That changed as corporations first sampled then deployed then deployed in large scale PCs from other vendors.
Until Opteron, AMD was competing for the consumer market which is susceptible to being influenced by advertising. IT professionals are not so easily influenced. Opteron market share has grown from nothing to greater than 5% at the end of last quarter. Hector seems to think its going to grow to 10% by the end of the year. I don't know if this is true, but it is certainly a possibility.
Once the Opterons are inside, buying AMD64 powered desktops starts becoming acceptable. Things are very different now then they were just 2 years ago.
The P4 is argueably the best processor they have produced to date.
This may be true, but future development has been cancelled. Intel is starting over for desktop development based on Pentium-M. Netburst is dead man walking.