At first glance the longer pipeline and higher Frequencies makes Bulldozer sound like a NetBurst inspired thing with lower IPC that current K10 that could be as big as a fail as Prescott was, hot and ugly. If wasn't because JF-AMD insistense on the "IPC increases" topic (Refer to Hans de Vries signature :D), I would be dubious about what the hell Bulldozer is. But that very JF-AMD statement, plus the fact that the current trend on
performance per Watt means that no one sane enough would design anything like Prescott, makes me believe that Bulldozer could end being quite... Interesing.
At the bare least you have a bit higher performance per clock, and you also have a bit higher Frequencies. Even if it doesn't beat Sandy Bridge it will come dangerously close.