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Well, the cat's out of the bag - Jobs has confirmed in his WWDC keynote speech that the first Intel-based Mac will be shipping next June, with the lineup transitioned by June 2007. The demos on stage have been on OS X running on a 3.6GHz P4.

And 10.5 will be known as "Leopard".
BTW, I notice the keynote's now available to view, with H.264 available for those able to take advantage of it. (Which now includes Windows users, with the QT7 preview now available)

Still churning through the Ars thread on the general topic, but it's mostly pure speculation, aside from a side note of some interest, explicitly stating that Intel Macs (still seems odd, writing those two words together) won't be using Open Firmware. I'd imagine this might signal a boost for Intel's EFI as a replacement for the supremely crusty BIOS of old.