Intel's Core 2 Quad processors do a pretty good job of trouncing AMD's Phenoms at the high-end of the market, but down in the more budget-restricted price-ranges things are a bit different. To those to whom reasonable performance at a good price is important, the tri-core Phenom 8000-series arguably has an advantage, for now. According to DigiTimes' sources, Intel has a Q8000-series coming soon which could change that.
Clocked at 2.33GHz with 4MB of L2 cache on a 1,333MHz front-side bus the first of these CPUs, the Q8200, also sacrifices such features as Trusted Execution Technology and Virtualization. Considering how few buyers are likely to ever use either of those it's not a particularly important loss - but it does allow for more differentiation between the price ranges than just cache size.
Pricing for the Q8000 is supposedly $203 (~£100) in thousand-unit bundles. The cheapest tri-core Phenom, the 2.3GHz 8650, sits at about $170 (~£85) retail which means that the Intel chip can't quite compete price-for-price. Whether the temptation of a fourth core for a fairly small premium will tempt customers remains to be seen.