Yeah the big problem for me is I see intel going after the fleshy profitable middle, and not caring about the absolute high end. I expect that the thing that will be hurt the most by intel's entry will be the AMD & nV high end which is financed by the profits of the middle. If intel takes a chunk of the middle without any interest in the e-p3ni$ high end, I think it will cripple the future of the high end and make it that the high end is just and extension of the middle instead of the true lead which is far beyond the other parts.
That's the way I see them influencing the market, and with their effect on things like Vista etc, I also think their influence on standards and feature support will also be negative where they will swing their weight so that everyone does things their way, not necessarily the best way.
And I'm otherwise indiferent to intel as a company, since I love their mobile and PDA chips, and their desktops are tops right now, but their influence on this market is troubling unless they can really just leapfrog everyone else significantly.