I wrote a weblog entry for Macworld covering my initial reactions to the announcement, as well as some thoughts as to what it might mean for the future. I've heard it called Macintel, but that seems to easy to me. Since it will have "Intel inside," I prefer Mintelac [min•tel•ak], since that's literally Intel inside Mac.
In short, I'm definitely excited about the potential, but quite scared about the transition ... you can read why in the full entry over at macworld.com.
[Note: I've disabled the comments for this article, as editorials such as this one are now actually part of my job for Macworld -- hence, I'd like any follow-up conversation to appear on Macworld, not here. Don't worry, my blog's not going away, and I'll still try to post here regularly. But there will be posts such as this, where the topic I wish to discuss is very closely aligned with my job, that will appear on my Macworld weblog instead -- I will always include a pointer to such articles here, though.]