Reuters reports that Intel announced that they would no longer be using processor speed as part of the name of upcoming processors.
Instead, Intel plans on introducing model numbers:
Intel's new model numbers give each Intel processor brand a series number. Within desktop computer chips, for instance, the low-end Celeron chip will be given the 300 series, the high-end Pentium 4 will be given the 500 series label, and its Pentium 4 Extreme Edition will be given the 700 series.
The move is expected to cause some confusion and require some reeducation of consumers.