Unfortunately, AMD isn't as well positioned in the high ASP embedded markets such as comms and networking as is Intel.
The graphics+CPU "APUs" AMD is now focused on won't fare well in embedded systems that will prefer lower cost and power ARM SoCs running free Android.
Ah yes, the 29k, which morphed it's way into the K5 (at least the methodology behind it). Some of the best architecture I've seen. They're going to have some serious brain-drain, for sure. Hope they can come back strong.