The Tech Report notes Intel has released the Celeron M 787, a low-power Sandy Bridge chip with a 17W TDP.
The Celeron M 787 is so new that Intel doesn't yet list its full specifications on the ARK. Based on what we can glean from the price list entry, however, this is a single-core, single-thread processor with a 1.3GHz clock speed, 1MB of L3 cache, and a bulk asking price of only $107.
The guys at CPU World managed to snag more details. They say the chip has a 17W thermal envelope, hardware virtualization support, and a base graphics clock speed of 350MHz (which jumps up to 950MHz in Turbo mode).