Absolutely superb and Conroe should be a 64 bit 4-issue 4Mb 65nm monster derivative with probably another FP unit. Intel would have been screwed in the future without the P-M design although P4 has served them well when PIII stumbled. Tag team action obviously ;-).
And why stop with Conroe? Go even further..... Let's say, for example, what do you suppose the result might be.... hypothetically, if intel took the PM core design concept, and in the future, dumped the P4 design, and instead, spread the PM design across the entire product line? That would be a pretty smart thing to do, wouldn't it?
Just speculation, of course ;-)