Bay Trail is still seasons away but engineering samples are, and this should be no surprise, already in use at least for research and development purposes. Someone, somewhere down the line, decided to run a benchmark which was posted online. AnTuTu, the benchmark utilized, measures a spread of factors including memory, integer performance, floating point performance, 3D performance, and so forth. Unfortunately it does also include some non-CPU/GPU factors in its score, albeit barely, so best take it with a grain of salt.
Image Credit: The Droid Guy
The Silvermont-based chip, clocked at an… actually quite modest 1101 MHz, received a synthetic score of 43416. To put that in comparison: arguably the fastest ARM processor on the market, the Qualcomm's Snapdragon 800, tends to find itself with a score around the 30,000-32,000 range which is about 27-31% slower than Intel. The very popular albeit soon deprecated Nexus 7, powered by the Tegra 3, scores 12726.
Personally, I am getting a little flashback of the Intel vs. AMD battle about 8 years ago. We seem to be close to a Conroe (Core 2 Duo) vs. AMD Athlon 64 FX point between Intel and ARM. Intel eclipsed the AMD Athlon 64
FX-57 (update: I meant FX-62) and kept throwing more money at research than AMD could possibly afford. Unless ARM can severely undercut Bay Trail, Intel could follow past trends and simply bury their competitors with tens of billions in capital investment until their products are so far ahead that consumers default to Intel products.
If history repeats itself, this leaves Qualcomm and others in a difficult position. The solution seems to be either to tread water in a price point that Intel ignores or to collectively dump money into ARM and run the "out-research Intel" treadmill. Remember, this is a company who will dump twice AMD's revenue into their Research and Development year-over-year to keep ahead. Unlike Intel's GPU efforts, which did not seem like a problem that cash could solve alone, they know how to make processors.
I would not make business decisions under the assumption x86 will keep Intel hobbled indefinitely.