Mad Shrimps posted Intel Clarkdale vs AMD Phenom II with 785G Mainstream Showdown. Here's a taster:

When it comes to gaming, the difference between the Core i5 661 and the 785G's HD4200 is not that big, especially when you increase the clock frequency of the HD4200, which can be easily done even without increasing the voltage. Now, please note that Intel did 'cheat' a bit when sending out the Clarkdale samples: the Core i5 661 has the IGP clocked at 900MHz, whereas the other products have it clocked at 733MHz. With no option to decrease the IGP frequency through Intel's DH55TC bios, the comparison is maybe a bit unfair. We had preferred to test a normal Clarkdale product to see the real difference ... but we'll have time for that later this year for sure.

In terms of single threaded performance, the Clarkdale has no problem keeping up with and sometimes beating the AMD Phenom II X4. The Intel Core technology is just a tad faster than the Phenom II and there's no way around it. In multi-threaded applications, the true quad core nature of the 965 outperforms the Clarkdale clearly, which leaves us with the conclusion that although the Clarkdale may be faster for lightly threaded applications, for heavily multi-threaded applications you should op for the Phenom II.