i dunno amd's vliw processors usually equate to numbers like 120, 160, 320, 480, etc.. not numbers like 128 (512v4 / 4) but who knows.
as for an IGP being able to play any game out there... that'll probably be 4-5yrs after the release of the upcoming xbox and playstation since by then those consoles should be using full DX11 features and 5yrs would be plenty of time to pack that into an IGP, esp since they'll have 28nm or smaller by then.
on the flip side, we should see a great improvement in PC games in general since when the new consoles DO come out all the new console ports will have full DX11 and such. (and the latest openGL/CL stuff)
as for the recent news about AMD. I'm excited, its a great time to be a geek lol. Not bad for a company who's budget is a fraction of the competition. good news for amd though... this news seems to be affecting Intel... their stock is down 1.65% for today (as of 3:24ET)