Our very well informed sources have confirmed that Deneb's core, Phenom / Opteron at 45nm with 6MB of L3 cache, can go over 3GHz. This is probably something that might save the day for AMD.
The current line is still that the CPU comes in the second half of 2008 and they simply don’t want to get more precise than that. Intel currently ships its quad-core at 3.2GHz and this core can easily hit over 4GHz.
It will be late, but let’s hope it can get AMD back in the race.