The first 45nm product may well be a shrink of the 65nm Merom product, possibly to be caled Penryn. As Intel is supposed to announce new products at IDF it makes sense that they would announce future products based on their new 45nm process there.

Going to 45nm will GREATLY reduce power consumption compared to the 65nm parts that are soon to be released, and extremely compared to existing 90nm products. A very simplistic estimate would be that power consumption will drop by a factor of four (square of the difference of feature size) compared to the 90nm process, so a Prescott re-done in 45nm might only generate 25W-30W of heat. Now a Pentium-M derived core would obviously generate even less heat - dare we hope for 5W or less?

Quite possibly. Currently Merom is estimated to draw 9W with its dual cores, that could drop to less than 4W; and Yonah which is estimated to draw 5.5W could drop to 2W. Longer battery life anyone?

The extra thermal envelope would also be helpful for increasing clock speeds; even though Intel seems to have relaized that more efficient architectures that accomplis more per clock are a better way to go than raw clock speed.