The way it looks at this point, you will actually see Intel's frequency's decreasing in the next round.
The new generation of chips will be based more on their mobile chip design, which is very effecient. The articles I have read is it should come out at about 3Ghz or so. Now, this is more comparable to an AMD clock cycle, so you can imagine, they will be fast chips.
If anyone does not know what the mobile chips are capable of, check out this thread: