hedwards: but they're usually not better in terms of thermal output and architecture. Right now you are correct though.
They've been better in terms of architecture starting from the NetBurst implementation (the Pentium Extreme Edition line-up), then took another step forward with the Core microarch. (Intel Core 2) and another huge leap when switched to Nehalem and it's children (i3, i5 and i7 series), and this is only on the consumer side. AMD could never hold a candle to the Xeon line. So this started around 6 years ago.
As for thermal output/processing power ratio I'd like to see a solution from AMD that even comes close to the Atom architecture which will take another leap forward once Cedar Trail hits the market.
Also, the OP only asked about processors so that's what I talked about. Yeah, Intel doesn't give much of a fuck about integrated graphics, and that's been clearly shown in the pre-launch demos of the i7 where they did a lot of graphics work only on the CPU.