Yep, I'm pretty sure that Centrino's are, like AMDs, clocked lower, but perform just as well as their higher clocked competetion. This is probably for cooling and battery life purposes.
Once again though, I own an AMD 64 3000+, and it has superb battery life and easily rivals my Pentium 4 3.0Ghz desktop.
I'd still say that the 64s are the better choice, since AMD is known to outperform all Pentium 4s in the gaming world, and I'm pretty sure if they can beat a P4, they can beat any other Intel proccesor out right now.