Final Words
Without a doubt the Phenom II X4 965 Black Edition is faster than anything you can get that fits into an LGA-775 socket at a remotely similar price point. AMD has done its duty well there, the 965 is clearly a better option than the Q9550 or Q9650 for that matter.
As a gaming CPU, it's actually competitive with the i7s. If you exclude the FarCry 2 results, which I hardly believe are representative of most games, the Phenom II X4 965 is easily just as good of a gaming CPU as an i7 in today's titles. Now once you start throwing in background tasks and look at future titles being more threaded then the picture becomes a little more muddy.
Overall application performance is very good from the 965's perspective. It's only in a handful of 3D or well threaded apps where we see the i7 really pull away. The 965 BE is competitive, just not faster.
All in all, I like the Phenom II X4 965 BE. It is a good performer and if you can get the price right then it makes sense. The problem is that AMD is defending a hotly contested segment with this processor at $245.
When it comes down to it, between the 965 BE and an i7 920, I still opt for the 920. The 965BE does have a lower total cost of ownership so the real question is how well does it stack up against the Lynnfield chips. Based on our preliminary results, I'd expect the race to be reasonably close between the 965 BE and the Core i5 750 but the i7 850 may prove to be the sweet spot at only $40 more.
The clear response would then for AMD to drop prices - I believe at $199 the 965 BE would easily remain competitive. The situation we find ourselves in today is that AMD has a good enough architecture to remain competitive, albeit at more affordable price points. Thankfully for AMD's sake, regardless of what Intel does, there's always a price point where Phenom II seems to make sense.
The question is will this be enough to last AMD throughout 2010 before we see a real change in architecture?