Until Intel's 45nm chips arrive, their current 65nm quad-core parts seem to max out around 3.0~3.3GHz, and that's already quite pushing it. (Just like 90nm A64 tops out around 2.8~3.0GHz) I could imagine one more speed bump over current QX6800, which will probably be dubbed QX6900, and that will not be a mass-quantity SKU. (Needs cherry-picking)
If, I mean IF (since I don't know what the real story is), the initial batch of K10 which is native quad-core can do 2.7~2.8GHz, and possibly with a revision if it can reach ~3.0GHz, I'd say AMD will have a comfortable performance crown till the end of year. After that, the battle will turn to a clock speed race until Nehalem arrives. Yorkfield's performance increase over Kentsfield (clock for clock), to my eyes, comes mainly from added L2 as well as revised platform (X38). Suppose a same clock speed, same amount of L2, and same platform, I'd venture to guess that Yorkfield's performance increase over Kentsfield would be <5%. So basically Yorkfield is a die-shrink of Kentsfield, and some tweaks and extra L2. (SSE4.. well, I doubt we'll see any app that'll take advantage of it any time soon) But it should certainly clock higher than Kentsfield thanks to improved manufacturing process.
Overall, if the rumours bare any truth, AMD and Intel will be more on even battlefield, the major selling factor being the price of total platform. Intel has an advantage here because their new chipset is out already and will mature over time, not to mention their decade-long expertise. On the other hand, I am not sure what AMD has in store for AM2+/AM3. (See, now we know why AMD so wanted and had to buy ATI. AMD has been way too much reliant on NV ever since Socket 939 was introduced) Then again, fortunately K10 will have integrated memory controllers just like K8, so it shouldn't be too hard to produce a solid chipset/boards. Performance/feature-rich chipset is another story, though.
Not only that, under the assumption of superior performance to Kentsfield/Yorkfield, I doubt we'll see the 'bargain-bin' prices from Barcelona. Can't really blame AMD on that front since they're probably losing money on many chips they're selling right now so they need to recover the financial damage. Expect to see the return of pre-Conroe prices from AMD.