[DM-MUG] here's another take which seems accurate= From IBM to Intel chips

[Bill Davis]

Here's a link to the webcast version of Steve's keynote at WWDC 2005, 
where he shows Tiger, and many apps running (seamlessly and perfectly!) 
on a Mac with an Intel 3.6Ghz Pentium 4 inside.  Indeed, ALL the demos 
in this webcast are on Macs with Intel chips.   Which he doesn't tell 
you until after the first several apps (sorry for the spoiler).

Apps including Office, Photoshop, Quicken, Mathematica, and more.    It 
took Wolfram 2 HOURS to port their product for Intel. Nice.  But 
Office, Photoshop, etc were running under "Rosetta", the realtime 
PowerPC to Intel translator.  Seems indistiguishable from native apps 
in speed (it's probably not, but looks pretty darn good.)

http://www.apple.com/quicktime/qtv/wwdc05/