Trinity is 32nm SOI. That is what's "going head-to-head in notebooks and desktops with Intelís 22 nm Ivy Bridge CPUs." 32nm SOI (the long-standing partially depleted flavor of SOI,btw) vs. 22nm bulk FinFETs. That's some heavy competition.
Yet, as you note, Rick, "Trinity parts bring advantages both in higher performance and lower power consumption that will keep AMD competitive in the latest round."
Rick, why do you insist on silly phrases like "Ultrabook, a variant of the Apple MacBook Air"? Is it just mental sloppiness, or are you trying to push an agenda? It's fine for a fanzine, but not "professional".
how about "Samsung Galaxy SIII, a variant of the Apple iPhone"? or calling any tablet a variant of the iPad? please don't call any computer with a GUI "a variant of the Apple Macintosh" or I'll die laughing...
So why is AMD even around? I mean they are failing to keep up with Intel who is failing to get a chunk of the high growth mobile market (tablet,phones). When the data center build out phase peaks, which will happen as the cloud matures, AMD is toast. The only chance they would have is if they came out with a chip with radically less power (like this one @3W), but they can't do it as they don't have the ability.