Gottabemobile published a slide from AMD that details AMD's first mobile platform based on the Fusion architecture. It's called Shrike and it will arrive in the second half of 2009. The Shrike processor will feature an integrated GPU core and southbridge and AMD claims Windows Vista devices based on this platform will offer more than 6 hours of battery life.
Shrike will begin hitting the market the 2nd half of 2009. Considering how fast the ultra-portable space is moving right now, that is eon's away. It will certainly be good to see another player enter this space and will bring some good competition for Intel and Via.
Shrike will not compete against Intel's Atom or Via's Isaiah. However, I wouldn't rule them out of that space, either.