The Computex show has given Intel a chance to show off its new line of Lynnfield and Clarksfield CPUs in operation. Both of these are variations of the Core i7 line currently available. However, Intel's Francois Piednoel said that the Core i5 branding that has been rumored is incorrect. He wasn't able to say what the official branding would be, just that Core i5 was not it.
The Lynnfield CPUs are the desktop variants and will have quad-cores with eight threads. Compared to Core i7, the Lynnfield line will see cheaper processors and motherboards. The Turbo Boost feature (a feature that allows the CPU to clock individual cores higher) would be substantially better than the Core i7's implementation. Turbo Boost will allow the Lynnfield CPUs to clock individual cores higher to boost speed for single-threaded applications. The entire CPU can also clock higher as long as it stays within its power envelope. Piednoel said that the gains from the newest implementation of Turbo Boost would be astonishing.
Clarksfield is the mobile version of the new CPUs. It will be quad-core with eight threads as well. However, don't expect to see this in small, light laptops. It will likely only be found in the beefiest, highest powered laptops available.