I believe most processors are approaching a more RISC model of computing -- ie, fewer specialized circuits on the processor. Rather, they use simple instructions (ie move (a pseudoinstruction), add, subu, lw, lb, la, li, etc, as in MIPS) to do more complex tasks.
CISC has more instructions that do more specific tasks (such as specific circuitry to sort an array or something) whereas RISC has less instructions but are more general and can therefore be used to essentially replicate the more complex instructions in CISC.
From my understanding, RISC allows more circuitry to be fitted onto a chip because it has very few specialized circuits, freeing space for more generally usable circuits.
I hope that makes sense.