Penryn has been out in dev for over six months. The first server based and high end desktop release will be November 12th however you may not see in on the shelves for consumer systems till Jan. That one is up in the air but if Intel is smart they will get that puppy on the shelves before xmas.
Nehalem just hit the dev scene at the beginning of September and will be out in 2008. When exactly is up to Intel and how far they need to go in making sure everything is peachy-keen. It could be ase early as Jan or as late as May.
The difference between the two is the fact that Nehalem will be the first Intel slug that matches AMD's 64 multi-core design. The processor is major architecture redesign of Intel's multicore. It will allow for configuration in such areas as core usage, cache, memory, threading and I/O. AMD's native multicore allows for such configuring of individual cores, memory and threads, but Intel's does not.
A major advantage to Intels 45nm shrink is in getting rid of the nitrided silicon dioxide gate insulator and move to a High "K" metal gate which removes the problem of power loss due to gate leakage which is associated with the SiO2 gate as dies are reduced.
http://prola.aps.org/abstract/PRB/v49/i15/p10278_1Nehalem will also bring the 8 core Intel slug to market.
In 2009, Intel will introduce the 32nm processor.
as a side note, I just happened to bump into one of the big-boys at MS who oversees the Server System dev teams in VISTA
Funny thing about that conversation... they know VISTA is a dog and they know why, which comes down to corporate having their nose so far up Intel's arse they were required to develop for IA-64 which with Nehalem becomes obsolete.
The bottom line is, the reason FSX and VISTA suck so well together is because of Intel shining MS into developing for IA-64 so they had an edge on keeping AMD's processor architecture restricted by the OS and leveling the playing field. Right now VISTA sucks the life out of everyones CPU effectively keeping AMD's old and newer processors in check with Intels and with the introduction of Conroe and other past year releases it gives Intel a slight edge over AMD until Intel can finish thier 'copy-cat' of AMD's 5 year old approach and put it on the market. VISTA essentially makes AMD's Barc and newer design run just as bad so Intel worked MS to do their dirty work.
get it?
It was a dirty trick because if MS had developed for x64 and the newer Intel/AMD processors, VISTA would not be as much of a dog as it is.
I came away from that conversation feeling as if there was going to be a major shift in VISTA by the end of next year, which is par because it was not until SP2 that WindowsXP began to shine.