It's useless to speculate on the Pentium 4 (and any future product) right now, because we lack the only two pieces of information that really matter as buying crieria: price and performance. If the P4 is truly a better value than its future competition (ie. DDR Athlon, Mustang) then I wouldn't hesitate to recommend it to my customers.
However, given Intel's price/performance track record, there's really no reason to believe they'll be willing to offer better value than AMD. In fact, the only time in the past ten years when Intel offered a better price/performance ratio was during the last half of the CeleronA's run. At every other time, AMD chips have offered better bang for your buck, from their 386 clone, to their Am486 to the 586, K5, K6-x, and all the way up to today's Athlon and Duron.
Intel's strategy for the P4 is clever from both a technology and marketting standpoint: design it with inherently high clock speed scalability and captalize on the public's perception that higher MHz equals better performance. Imagine Joe User walking into CompUSA and comparing a $1000, 1.5 GHz AMD system to a $1000, 2.0 GHz Intel system. Joe doesn't read AnandTech or Tom's Hardware, where he would learn that the AMD system is in fact faster. His only source of advice to rely on is the ignorant IT manager at work who only buys Intel, the corrupt editors at PC Magazine, and the commericals that promise a "better Internet experience" with new "Intel NetBurst technology, only on the Pentium 4". Which will he chose?
Modus