I thought it was a perfectly reasonable question by the OP.
Simple answer is nope, PD won't match Sandy/Ivybridge i7s, but then they won't be competing on price. I'd imagine the top PDs will still be competing with i5s. In which case, they will still lose on most (single threaded) apps, but nowhere near as badly as BD. And they will be very competitive on threaded apps, of which there are more and more and software (including games) is slowly moving in that direction.
I imagine they will be reasonably competitive chips *for the price* but will still fail miserably against more expensive 8-thread i7s.
Looks like PD might match/slightly beat Phenom on IPC, which is a relief.