Core i7 sofar looks like an extraordinarily good processor.
If you're disappointed, my take is that your perception of different performance envelopes is unrealistic.
That is to say: you are comparing 'desktop' -benchmarking results for Core 2 and Core i7.
I often have the impression that many think such benchmarking represents the 'general' level of performance for a cpu. That is not true.
'Desktop' benchmarks, the type that is almost exclusively published in magazines and websites like this, basically only measures one single aspect of performance. It doesn't matter how many different such benchmarks you read, they still don't represent general performance or performance on all things. They weigh (and for good reasons) one single thing so heavily, that it can well be said that they measure only one thing: Code which make light demands on frontend performance and contain massive amounts of vectorized computing.
And this very thing is what Core 2 excels at! (And for quite tangible reasons, it's got four pipes and 128 bit wide vector hardware, compared to AMD's three pipes and in the case of the Athlon, only 64 bit wide vector hardware.)
Core i7 is different. It's built more like an AMD processor. But much better. It's fast all over. At everything.
So when you're disappointed, my take is that you are comparing only what Core 2 does best. Not 'general' level of performance.
That doesn't mean I'm saying you should all go out and buy Core i7.
No.
Desktop benchmarks are made the way they are for one other reason than making Intel look good. And a good reason. They well represents the most performance significant workloads on the computer for most users. That is, the big time-consuming tasks in various media software are made up of exactly that kind of code. So Intel had their performance emphasis exactly right with the Core 2. And AMD had it wrong. AMD were more concerned with performance as a server CPU. In its early life, Core i7 is primarily intended to stomp all over AMD in the server/workstation area. My take is that Core 2 will remain excellent value on the desktop.
So yes, if you expected early Core i7 to replace Core 2, you have the right to be disappointed. But greater vector performance is underway. (I would also gather that benchmarks that will favor Core i7 more, are also underway.) The reason not much happens right now with emerging CPU generations, is that both Intel and AMD are pursuing new technologies for vectorized computing.
But if you're looking for a 'poor man's Core i7' (for complex loads) there might be a different option, Phenom II. I can't really say for now though.