Umm.. dunno. It seems like a hell lot better achievement than AMD's Clawhammer (130nm) -> San Diego (90nm). Of course it's all about manufacturing - I mean it in a slightly different sense from 'technology'. Anyone (well, OK maybe not anyone ) can draw a dream CPU on a paper, but whether or not capable of manufacturing it is something entirely different. I am very impressed by the improvement - more than anything on the L2. Intel not only packs more L2 cache on Penryn, but also they managed to make it even denser. One of the AMD's weak points is that their cache performance is horrible (which of course made up for by on-die memory controller, to some extent).
I mean, if AMD can manufacture their L1/L2 cache as fast/dense as that of Intel's, the competition between A64 and Conroe wouldn't be like this today. And with Penryn, we'll see even higher clock frequencies as well as lower power consumption. It looks like Intel's on the rock these days.