Intel announced today that the upcoming desktop processors based on the "Nehalem" microarchitecture will be branded as "Intel® Core™" processors, with the first family - including an extreme edition - to be specified by an "i7"; so the complete branding will be "Intel® Core™ i7".

Apparently "i7" is only the first of new designations to come

“The Core name is and will be our flagship PC processor brand going forward,” said Sean Maloney, Intel Corporation executive vice president and general manager, Sales and Marketing Group. “Expect Intel to focus even more marketing resources around that name and
the Core i7 products starting now.”

Nehalem based processors are expected to be available starting the fourth quarter of this year.