The Inq found out a bunch more details about AMD's RS690 chipset which features an integrated version of the X700 GPU. It's a 80nm chip and there will also be a RS690M for notebooks and a cheaper RS690MW with no TMDS out.
Back to facts: all the integrated graphics parts have an X700-derived core with four pipelines, as Fudo said, which is fully DirectX 9 compatible, but doesn't have DirectX10 hardware support. Still it should be enough for very slick Vista Aero effects, and playing "The Sims" on a plane. There is also an TV output DAC on chip, supporting HDTV up to 1920x1080i component video output.
The DVI & HDMI supporting variants all have on-chip HDCP key storage, and can blast out HD audio over HDMI connections too, but we're not yet sure how the security works on dual link modes.