The true comparison will be when Deneb is released at all price points and flavors (Deneb and Hekus, Propus and Rana). Tom's article pointed out that i7 was 145% faster than the B3 9950, but looking at some individual benchies that weren't solely optimized for dual cores, the fastest B3 was only a minute behind.
So, that leaves me with some hope for Deneb. Sure, Nehalem will still be faster, but AMD might still have the price performance for budget builds and big box store name brand PC's. At any rate, if I were an Intel fan and had a Q6600, I'm not sure the low end Nehalem would be worth the upgrade.
It seems like only the EE will have an unlocked multiplier and the others won't do that much better in games than Core 2 quads. AMD will be hurt on the server space if businesses want to shell out the money to switch over (not sure of that over the next year).
Both Intel and Nvidia seem to go for very expensive products at the high end with a new generation who's major purpose is to win benchmarks and establish dominance. That dominance didn't last for Nvidia, because they got complacent, and we'll have to wait past Deneb to see if any new AMD architecture can match Nehalem, but Intel fans will be buying Core 2 anyways; they won't be buying Deneb or Nehalem.
Considering how badly i7 fares in games, in price/performance, the one thing Intel fans might be needing is a Core 2 quad to replace a dual core as games and apps accept more cores.
edited to change "they" to "the".