So now that you know it's coming, what can you expect from Intel's new chip technology? Well, for starters its codename is Penryn. and in a nutshell it's a 45nm shrink of the Conroe core. The extra real estate will let Intel cram more logic on the processor as well as boost the clock speed. Penryn will launch on Socket 775, so technically today's mobos should support it. Performance-wise, Intel claims....
you'll see double digit performance gains on your multimedia apps. (We'll see about that). So what comes after Penryn? Intel's got a completely new microarchitecture called Nehalem. So no matter how you cut it, just buy your new computer now cause it's gonna be outdated either way.
Life with Penryn [Daily Tech]