dragon's just a name for a group of products, if it will be based on the new ddr3 setup I don't know but is quite likely. Its not important though.
I forget the benchmarks I saw of shagnai vs i7 server version, it was close but behind, but its, for a server setup, a very expensive product, the i7. It beats the c2d server chips from what I recall, destroys them on power usage(largely due to the fbdimms being used which are uber power hungry) so is pretty cheap to use. intel also don't have 4 way stuff out for a few months, and 8 way out for a year so AMD should dominate both area's in the short term and should compete very very close on power/performance, which is what datacentre's really care about frankly and should be cheaper, again a consideration.
With desktop, its going to be hard pressed to match completely with the i7 in sythetic benchmarks purely because sythetic benchmarks mostly pose unrealistic usage and will max out the bandwidth, triple bandwidth is going to be very hard to compete with in some area's. But again this would be amd's strategy, they are still going value, and triple channel means realistically needing to buy 6gigs of mem, its silly for people to invest in 6gb's of even cheap ddr2 when ddr3 is being pushed and 6gigs of ddr3 is not cheap.
The fact the chip is close, and will be indentical in many area's is a big plus, aswell as the massive increase in ATi card sales, it will mean say Dell can smack ati cards in their intel rigs, or offer ati cards in a amd rig with a discount for going the dragon platform and buying it all together.
But also remember, this is the first chip thats had a year being sorted while they knew they were getting massive cash investment(the takeover started talks over a year ago now) so they are only just moving into the "we have cash, we'll have fab's, lets make chips how we want to" phase. Phenom 2 is what they wanted for phenom but had to sacrifice size for yeilds and with size went performance. ITs a very good chip considering they went from a good design, to a butchered cut down version and back. Hopefully the next few releases will now be designed to simply be the best they can make, rather than have fab limitations hold back the design.