The old i5 Intel chip beats it at most things even at a lower clock. Now just look at what the new i7 Sandy Bridge chip does to it.
http://www.anandtech.com/bench/Product/287?vs=102
what the...? the i7-2600 is like double the cost of the Phenom II, its double the cost for a reason, thats the 'premium' you pay for the extra performance. not to mention most LGA1155 motherboards are £100 - £150, the difference between an i7-2600 machine and a Phenom II machine is like £180 - £200 or something. i don't see how you think AMD are going to explode because they don't have the fastest product, they are still competative in the all important price vs. performance.
before killing of AMD lets wait and see what sort of price and performance Bulldozer bring to the table, if it basically phases out the current Phenom II range and takes over at a similar or slightly higher price, they will still be highly competative. Sandy Bridge isn't miles faster than the older i7 range, so as long as Bulldozer is at least as fast as the older models, made on a better process so it will clock higher and consume less power, don't see intel running away with anything. also the fact Bulldozer is fundamentally different to Sandy Bridge raises other questions, like whats their fabrication cost, whats the yield, etc. and we still have no dead certain benchmarks to compare the two, only rumours and speculation, could turn out to be more powerful than you think...! could end up with 8 core Bulldozers taking on 4 core i7 processors, would assume the AMD would win heavily in multi-threaded applications, would also guess it would be cheaper than the intel. so lets quit the doom and gloom, end of the world business and wait to see what AMD bring to the table, before re-analysing the situation.
also worth noting, still got my trusty Q6600, still going strong and not missing a beat, still playing starcraft II online with my mate (who has i7...) and not slowing anything down. don't think i really need to upgrade my Q6600 anyime soon to be honest, nothing really seems to trouble it too much and its ancient..! also may i add that if it is true that AMD are bring back the FX moniker, that at least suggests that they feel Bulldozer can compete at the high end of the market, so it can't be that much of a slouch, either that or they are going for multiply and conquer, loads more cores at a lower price premium...quite curious i must admit..!