delay after delay? It wasn't THAT long between them, and they didn't NEED to come out with it any faster. I'd bet on Intel getting a 200MHz quad-pumped bus before I'd bet on AMD coming up with a stable 200MHz double-pumped bus. I like AMD, but they aren't keeping up with frequencies, plain and simple.
No way it'll be eight 100MHz busses. For one thing, if you used that as the way to make "8-way" systems, then it'd mean each processor was limited to 100MHz bus, which you can guess would be extremely limited. Even with several processors sharing an 800MHz bus, because each one wouldn't need it constantly, each processor would get more than just a 1/8th share of the bandwidth at any particular moment.
Second, it'd be an entirely different design than anything else Intel has ever done, so I doubt they'd make such a change while still using the same processor. Even if you considered it as still eight 100MHz shared busses (separate channels but all accessible by every processor) it'd still be vastly different than the AGTL+ bus they use now. Keep in mind that GTL has evolved and been used in every Intel Pentium processor since the Pentium Pro.
Intel's "delays" are because Intel won't release anything until they're absolutely positively sure it's going to be stable and not cause any issues like excessive EMI or incompatibility (they learned from the i820 and the MTH).