Well, chips inside Centrino does consume less power and have less heat output. However, people are overlooking at the real thing here. Centrino costs a lot, like twice as high as A64, so why not just get LV A64 3000+ rather than the Centrino crap?(And I mean all Centrino ones, Celeron M, Pentium M) Because you get performance that make Centrinos look like 286's plus with Low Voltage, you get 25W TDP, which is only 4W higher than the Centrino, you get 64-bit support, which is apparently beating Itaniums in specfp-rate(or at least most of them. If you get bigger capacity battery, you save loads of money plus better performance plus lower price.
Centrino's suck, Itaniums suck, Pentium 4's suck therefore, Intel itself sucks, I wonder how Intel will live through this decade?