Moore's law will be atleast for another two more generations of chips—down to 22 nm. Intel and IBM have developed now new ways to make transistors that will reduce current leakage to new levels just like the Core 2 Duo processors have done.The methods involve new insulators made out of hafnium so resulting in less power leakage.

 This new range of chips will run faster, cooler and consume less power. Surely this processors might feature in mobile devices like phones, video players. Just imagine mobile phones with GHz processors under the hood, full video capture capabilities and unimaginable possibilities. Also because the early advantages that Intel has acheived with the new breakthrough, AMD's has now more work to do. Expects this chips to do demo's later this year.

Intel Says Chips Will Run Faster, Using Less Power [NYT]
Moore's Law seen extended in chip breakthrough [Reuters]