is it going to be much faster? The disadvantage about Atom being in a mobile phone is that, it sucks more power than any other mobile phone's processor. On the other hand, who really needs a powerhouse mobile phone?
I still think its going to be an ARM based chip Intel is supplying. x86 isn't the only thing Intel fabs (anyone remember Itanium?). If Nokia wanted to go with the Atom, they'd have to completely re-write their entire phone software suite, and that's very unlikely to happen.