That covers nothing about AMD or Intel's future plans.
I will go over what I have heard to help you out a bit.
Intel intends to slowly phase out the P4 line, Their Uberkin great white hope is the Merom CPU which will be a 64 bit dual core CPU based of the Pentium M line.
AMD is still on .90 nm tech, they are going to work on switching to .65 (well behind Intel) Coming soon they will be switching over to Socket M2 or AM2 (recent name change?) which will support DDR2 and should offer a soild boost, they are also working on a Dual core Turion platform called Yamato.
It is way way to soon to call this one, though personaly my 2 cents is on AMD, I expect that when they start .65 nm fabing they will be able to clock the Athlon 64 line very highly, Their dual cores already hit 2.8 ghz with air and 3 ghz with liquid cooling. I would not be shocked to see .65 nm cored Athlon 64 X2's or dual core FX products hiting 3.6+ ghz. Even if Merom is just as efficent or more efficent than AMD's up coming products, It could still be facing a sizeable speed gap based on raw clock rates.
Also there are some weaknesses in the Pentium M, in the vast majority of benches a P-M matches or beats an A64 at an the same clock speed, but in a few it will fall far behind. Intel has done some work on these weaknesses for Yonah, but will have to do more for Merom to be fully competitive IMHO.