cjl :
All the benchmarks I've seen show a significantly lower latency for i7 compared to PhII. One test I found put the Phenom II at about 44ns (as measured by Everest) and the i7 at around 32ns. That's not a small advantage - that's huge.
1,600MHz, CL9 DDR3 for Phenom
1,600MHz, CL7 DDR3 for i7
http://www.bit-tech.net/hardware/cpus/2009/06/22/intel-core-i7-975-extreme-edition-review/4
It is difficult to just look at a test and check for latency, does the test applications mesure correctly is just one important factor.
I think that Phenom will show better numbers when they set memory to ganged mode but i real applications it performs better in unganged mode.
I did some coding to check this about a year ago (memory performance), and I can tell you it is hard to check. CPU's has so much features for avoiding memory reads/writes where you need to skip just to get the real latency.