Sadly AMD is in trouble
Nehalem scales to 8 cores, that is very difficult for AMD to swallow. Nehalem is a very significant development, as it catches up with the theoretical technological lead that AMD had, and as such no more has. Unless AMD can deliver like hell and execute flawlessly Intel will be the clear winner here.
Now Intel will have both the mass market momentum and technological lead. AMD had considerable trouble bringing a quad core to the market... No I am not happy about this, because two good chip companies would definately be better than one. Without AMD we most probably still wouldn't have 64bit computing on our desktops but vague hype about the Itanic.