The 1700/x were $329/$399 at release (can't find £ atm). The 8700k is generally at $369.99 in the US.
Going to be tricky...
Depending on your exact metrics the IPC of AMD and Intel is pretty close (It gets complicated as to if SMT counts into IPC or not). The best AMD chip is around 1ghz behind...
If this geekbench 14.5% uplift in single core score for only 200mhz increase is to be believed...
3.6/3.8 (stock clocks for 1600 divided by stock clocks for 2600 to isolate IPC improvements) = 95% is based on IPC improvements so 14.2% of the improvement in score is based only on IPC improvements.
95% of 14.5% = 1.1375%...
Take that IPC uplift and multiply by max clocks, still assuming the base IPC (Ryzen gen 1 vs intel) was equal aaaand:
4.2ghz * 1.1375 = 4.777ghz in Intel speeds (most pessimistic peoples opinions)
4.3ghz * 1.1375 = 4.891ghz in Intel speeds
4.4ghz * 1.1375 = 5.005ghz in Intel speeds (generally the most optimistic peoples opinions)
If it clocks higher......
etc...so... it all depends on overclocking headroom the new process gives us.
IF everything works along those metrics, the single thread performance is (at least) AWFULLY close to Intel's. Meantime, Intel gets smashed in multi-core.
Still up in the air and depends totally on 1) Your baseline IPC comparisons 2) The overclocking headroom 3) The reliability of those geekbench scores 4) Price.
Bit too much yet to be nailed down
I think my maths is ok there, happy to be corrected.
Edit: Trivia: The more perceptive and "long serving" amongst you may remember this is how AMD caught up/started winning last time. They didn't get clock speed improvements, it was down to IPC gains from a Jim Keller designed chip
Edit2: Aaaaand, I'm kinda looking at it all again, the single core with/without SMT can't really be argued so... it's a good few percent behind, put it back on and 4.2/3/4 might well = 4.2/3/4 in Intel scores too. Still a good bit behind a 5ghz coffeelake...
The geekbench for each (single & multi, vastly different versions though so impossibly hard to compare):
2600 4269 20102
8700k 5945 25897
doesn't remotely add up.
Quick answer: NO CLUE.