Afro, I would disagree that AMD is behind. Rather they're right on pace. The problem being consumers look at mhz for comparison, and, 2000 is faster than 1200 if that's -all- you know about two different chips.
To think of it another way, consider how engines in cars are rated. No manufacturer markets their motor as running at 5000rpm. Nor should they, it's not a relevent basis for comparison. However, some do market in the spirit of the mhz myth by selling V-8 engines where a V-6 could deliver the same performance - but that's harder to convince the car buyer of.
My reservation is with the PR system. It concedes intel as the default, the standard to measure against. Merely this along suggests to the same consumers, those who are not geeks I mean, that this is somehow a lesser product. Does Chevrolet market their pickups as being "equivelant to a Ford model X" Of course not. Why would they give Ford free advertising? (Note, yes they will say it's better than a Ford, which is a measure of comparison, but done in such a light as to imply the competitor's product is inferior)
So getting back to the engine example, generic standards of horsepower and torque have been settled upon. I would suggest the same needs to be developed for CPU manufacturers. Up until now mhz has been our hp number, and that worked extremely well in the 486 days. Then Cyrix went the other route in the Pentium days. Since then it's been a confusing shopping environment for the non technical crowd.
I'm not entirely sure how to set such a standard, a number derived from a series of comprehensive benchmarks would seem to be in order, though as we're all quite aware of, if the benchmark is static then the next line of CPUs can be designed with them in mind. Don't think they wouldn't, both intel and amd are in the market of selling chips beyond all else.
So yes, a PR system bothers me greatly. But with lack of a different standard in place I'm afraid it may be necessary for the time being. Marketing in such a way as to promote your competitor to any degree is still better than not selling product.