Techiton

Intel's new upcoming processors will be officially brand named Intel Core i7, the name follows the popular Core 2 Duo and Core 2 Quad names. The new glossy and shiny logo has a similar style to the previous logos, the blue logo is for standard edition and black is for the Extreme Edition processors.

The Core i7 name will be given to the Nehalem architecture chip which would come with 2 to 8 cores, triple-channel DDR3 memory controller with upto 1333 MHz clock speed. The chips will use Quick Path Interconnect (QPI) bus and will support multi-threading.

Bloomfield will be the first Nehalem desktop processor that will be launched in the Core i7 series.
Intel will officially announce the Core i7 brand name and processors tomorrow - August 11, 2008. The chips are expected to be launched in October of 2008 and will have the following specifications:

Core i7 965 Extreme Edition Bloomfield:
Speed: 3.20 GHz
Cores: 4
Cache Size: 8 MB
Memory controller: DDR3 800/1066/1333 MHz
Bus Interface: 1x 6.4 GT/s QuickPath
Socket: LGA1366
Power TDP: 130 W
Price: $999

Core i7 940 Performance Edition Bloomfield:
Speed: 2.93 GHz
Cores: 4
Cache Size: 8 MB
Memory controller: DDR3 800/1066/1333 MHz
Bus Interface: 1x 4.8 GT/s QuickPath
Socket: LGA1366
Power TDP: 130 W
Price: $562

Core i7 920 Mainstream Edition Bloomfield:
Speed: 2.66 GHz
Cores: 4
Cache Size: 8 MB
Memory controller: DDR3 800/1066/1333 MHz
Bus Interface: 1x 4.8 GT/s QuickPath
Socket: LGA1366
Power TDP: 130 W
Price: $284

Source: Expreview, Wikipedia

Update Saturday, October 11, 2008:
Intel Core i7 expected to launch on November 17

Update Sunday, November 23, 2008:
Officially launched - Intel Core i7 965 940 920 - The New Kind of Fast