My fear was, and maybe still is, that Conroe and Woodcrest are going to launch around 3Ghz or more. I don't think AMD will be able to compete with that in that timeframe.
The K8 has an IMC-- Conroe and Woodcrest don't. And for Woodcrest, AMD can always deploy QC. And of course, Intel will have nothing competitive beyond 2 sockets.