You opinion on what "real" gaming is and how high the resolution must be before its not a joke is, in itself, a joke.
I think the goal for Intel/AMD is to be able to play "popular games" at 1366x768 with "everything at medium" for 500-600$
And by "popular" i mean Sims / Diablo 3 / SC2 / BF3 / MW3 and of course WOW.
What's funny is several years ago consoles seemed to be slowly replacing the PC.
Now.. well... if the next consoles are x86 based it's a done deal... 100% compatibility...
For 300$ you can buy a Xbox4 (with Trinity2/HD6000) and hook it to your TV.
For 600$ you can buy a Laptop (Trinity2/HD6000) and use it for "everything and game stand-alone or on a TV"
I mean Ipad & Amazon Tablet & Generic Tablet & Playbook all run on ARM within closed ecosystems.
Consoles + PC using the same hardware makes a lot of sense.