It's said that Intel's high-end gaming GPU, which is based on the PowerVR architecture, will be ready for release in about a year.
The problem is that Intel's track record for gaming graphics is pretty miserable. The G965 is a running joke, the last core they licensed turned into the shatteringly forgettable i740, and there is nothing to hint at this one not turning out the same.
Either way, we shall know for sure in late Summer, early Autumn 2007 when these boards hit. If it is of any comfort to Intel watchers, we hear the CPU/GPU combos are done by an entirely different team, so there is hope.