I'm hoping more cores. I read somewhere that we will probably never see higher than 3.2 stock clock speeds, so...
P4 already made 3.8Ghz, and with intel learned a lot about fast switching transistors, now with their "3d" transistors they will be able to make faster parts once that tech goes main stream.
In theory there wouldnt be much to stop them releasing a 3.8Ghz "stock" processor based on either Core 2 or, i7 right now, both designs easily run 4ghz+, but they would fast ever increasing power draw issues again just like P4.
A 3.3Ghz i7 is already on the roadmap for a May release
, and so are plans for a 6 core part (12 if you include hyperthreading).
As for CPU's being replaced by GPU's, that would massivly increase the transistor count on the GPUs. While GPU's are great for parallel processing of very simple in order instructions, they are hopeless at out of order code, and general purpose CPU's still have a lot to offer, Thats just Nvidia talking. If you listen to intel, they would say that GPGPU's are only a stopgap measure, with larrabee being a more forward looking idea, which brings a large array of modified pentium pro cpu cores to provide the computing power for graphics/physics/scientific etc, combined with a cut down x86 machine code/programming. Im not going to try and predict the future, but I doubt the main CPU is going anywhere, anytime soon.