@satsworld let me try to explain this
Performance of a CPU depends heavily on architecture and it is not at all easy to bring out a new architecture overnight. If you want to bring out revolutionary changes, it may take years. From the year 1999 till 2006, AMD had architectural advantage over Intel. AMD was the first to bring out 1GHz processor, they were the first to bring out x86-64 (64 bit processors that can also do 32 bit operations) which is the base of today's 64-bit processors (adopted by Intel).
By 2004/2005, AMD was steadily eating into Intel's market share. Their K8 architecture (based on K7) brought in many innovations like on-chip memory controller, hypertransport and they got the dual core architecture right. On the other hand Intel processors were slower, used to run really hot, take more power and were not as overclocker friendly as AMD's. As a result, Intel pushed the panic button, killed most of it's ongoing projects in CPU are and started from scartch, result of which was the revolutionary core microarchitecture. This was the first time that Intel started concentrating on performance-per-watt instead of working to increaes the CPU clockspeed. Today's AMD and Intel processors are still based on modified architectures derived from K8 and core architectures and you can get a detailed comparison between these two here *www.tomshardware.com/forum/178514-28-intel-core-architecture-future
AMD on the other hand had a better idea on evolving the CPU to the next level and they took huge risk in 2006. They acquired ATI and they immediately started working on integrating CPU and GPU, what we know as Fusion today. Like I said earlier, it can take years to bring out a revolutionary CPU. Since 2006 till now, while they were working heavily on bulldozer/fusion architecture, they were bringing out CPUs by minor modifications to the K8 architecture. And since K8 was an evolution from K7, AMD haas been hanging onto architecture from 1999.
Enter 2011, we are going to see a brand new architecture that will change the way that we thought of a CPU. it may even phase out the word CPU and we will start using APU to refer processing unit. Given their stenght in GPU area, we will soon see the APU itself able to run most of the games without the need for a GPU on the motherboard or a entrylevel or lower midrange dedicated GPU.
Given the way that Laptops are eating into desktops market share, AMD's Bulldozer based APUs can be a huge advantage for laptop manufacturers as it is going to provide an all round performance, eliminating the need for dedicated GPU. Llano (first gen fusion chip) has showed this recently. Though it's CPU core (based on K10 microarchitecture) is slower than Intel's Sandbybridge, the GPU part is just spectacular and turned the APU out to be a superb all rounder for midrange laptops. This reduces power, reduces heat, increases battery life. This way, one need not pay heavy price for casual gaming laptops as they can get the same for laptops priced much lower. Bulldozerwill fill the CPU side gap between AMD and Intel thus giving the performance crown to AMD APUs. This was already evident from the way that AMD took over the performance crown from Intel for netbooks (Intel Atom is no match to AMD's E-350 right now) and this is going to spread to notebooks and desktops, finally to servers in coming 1 year or 2.
In short, it's a tick-tock. Intel rules for some timeframe, then AMD takes over and vice versa. 1999-2006 was AMDs, 2006-2011/2012 will be Intels and then lets see how far AMD will go from 2011/2012.