From what I can garner of this whole situation, funny that I'd be on my Grandma's PC reading the keynote on Macworld, is that this is one step closer to the end of innovation for the Mac.
If you think about the PowerPC alliance, which Apple helped build. (At the time) Motorola would do anything for Apple, but IBM proved that they would build us faster and relible processors. Even though we had a rough transition to 90 nm processor (which hurt the 3 GHz roadmap), IBM has put the time and energy to making the G5 a success; something Motorola did not quite understand.
Now with Apple running the Intel ***** (oops, chips), we won't see the innovation of the G-series chips anymore. In fact, if Apple passed anything along to Intel, what's to stop them from passing it to Dell, HP, and Gateway first. Apple is going to be the low-man on the totem poll in the x86 realm.
If Apple was looking for a relible x86 developer, why didn't they considered AMD or welcome them into the PowerPC alliance?
But it doesn't matter now, without the PowerPC chip, hardware innovations from Apple WILL be a rarity.
Oh, this is one step closer to making Apple Macs into Windoze boxes.