Newly leaked Intel slides reveal that the company's 22nm smartphone chip are delayed to Q1 2014 at the earliest. The lowest-power ValleyView chip is likely to be the Bay Trail-T, which offers a sub-3W TDP. The Bay Trail-M has a sub-4W to 6.5W TDP, while Bay Trail-D offers a sub-12W TDP. These chips are aimed towards tablets and budget notebooks. Full details can be read at DailyTech.
To be fair, it did seem overly ambitious to somehow be able to jam out ValleyView/Silvermont in 2013. Not only is the release a die shrink, which adds the FinFET "3D" transistor design first employed in 2012's Ivy Bridge personal computer chip release, but it also adds other features like a seventh generation graphics core (with DirectX 11 support). Also added is support for DDR3L (the low powered version of DDR3 for mobile devices), USB 3.0, and on-die security/authentication features.
The chip also undergoes important structural changes; most notably, the current CedarView is comprised of 2 SoCs (processor+chipset), while the ValleyView brings the chipset onto the processor die, unifying the two chips into a single die. The chip will also be the first Atom to be offered in a quad-core variety.