AnandTech takes a look at the new Atom D510 "Pine Trail" processor, you can check it out over here. The new platform delivers better performance higher energy efficiency, but still lacks enough horsepower for HD video playback. Here's a snip from the conclusion:
What Pine Trail doesn’t do is address the HTPC applications for Atom at all. While it’s true that you can play most 720p x264 content on a dual-core Atom without hardware acceleration, you don’t get the sort of problem-free play-everything experience that you do with Atom + Ion. You can set up a very functional, very capable HTPC that can play high definition content based on Ion - you can’t do the same with Pine Trail.
It’s even worse now that Flash finally has DXVA support. It’s not just a matter of making high definition content playable, it’s about making sites like Hulu and Youtube more usable. Full H.264 decode acceleration would make Pine Trail much more appealing.
If you can live without the HTPC features and Flash acceleration, Pine Trail is better than Ion. If you can't, then the decision becomes a tradeoff. Do you take better video playback performance in exchange for worse application/system performance? Or vice versa?