Intel announced at the IDF that the Nehalem will enter production in 2008.
The chip will feature 731 million transistors and will be available in four and eight core versions.
Looks like Hyper Theading will make a return in Nehalem. Each core will be able to handle two threads which means you can run up to sixteen threads with the eight-core version. Nehalem will also feature an integrated memory controller and will feature a flexible power management system that can turn cores, threads and cache memory on and off.