I saw this posted on a couple of sites just a bit ago, and HardOCP even has an official company memo on this to verify the data.  It would seem the end of the GHz race is finally here, with Intel pulling back on their speed rush.  It was inevitable I think that would happen as we have seen the heat and power consumption on the Prescott core going up and up.  Even their latest processor release coming next month will stay below the currently available processors’ frequencies. 
SAN FRANCISCO, Oct 14 (Reuters) – Intel Corp. (INTC.O: Quote, Profile, Research) said on Thursday it was canceling plans to introduce its highest-speed Pentium 4 chip for desktop computers, marking another in a string of unexpected product changes, cancellations or recalls at the world’s largest chip maker.

The Santa Clara, California-based chip maker plans to shift engineers and other resources to accelerate the introduction of “dual core” chips, which contain two microprocessors in a single chip. Intel has said it plans to introduce dual-core chips for desktops, servers and notebooks sometime next year.