Speaking of the 32nm process, GlobalFoundries is set to kick off production of 32nm chips in the first half of 2010. Producing 32nm chips 6 months after Intel, rather then the 12-14 month lag time under AMD, would be a big success for the new company. Intel's manufacturing capabilities have been one of it's strongest assets in it's battle with AMD and the rest of the semiconductor industry at large. IBM has been very bullish on the 32nm node for quite sometime, even calling the 45nm process a "weak node", so the clipping of at least 6 months is probably to be expected.
Scott Fulton at Betanews has some interesting commentary on the subject, except he misses the part about the 28nm node being targeted at GPUs and chipsets rather then CPUs.