Well was chatting with a few guys who worked on the LRB about llano and this is what they said about the integrated GPU. This is all speculation by Intel LRB people so take it with a pinch of salt:

Me: The first shipment of llano's are out, i have to get my laptop hopefully they will come out before July.
Guy1: llano is interesting i find the fusion approach similar to what we were doing with LRB
Me: You ppl were doing CPU to GPU they are doing CPU+GPU to CPU
Guy2: You mean compute its very early for compute LRB has real cores no simulation stuff
Guy3: llano has memory controller constrains that cant be fixed till real fusion is done.
Me: What real fusion, its on the same die what else do you want?
Guy3: Its on the same die but its not real fusion our SNB is also not real fusion it will not come till the next arc change for both.
Guy4: I would think if the llano has similar GPU config as Zacate "as in the 5D split" the performance would be much lesser than HD5650.
Me: This is all hogwash 400 units is a lot and if it had some bottleneck than AMD would do something.
Guy3: That is the thing AMD is doing the BIG BAD GPU and we are doing the ENOUGH SUFFICIENT GPU, they have bottlenecks we have limited resources.
Guy1: Forget about it the next refresh will have near double executes and if llano is not effective next refresh will wash it out with better CPU/GPU combo.
Me: You people have seen what Zacate has done its a excellent platform.
Guy2: Zacate is slower than our C2D ULV's and we will come out with cheap ULV's around mid year which will be better in performance.
Me: In CPU performance not GPU.
Guy2: About equal very less variation.
Me: What about the single core SNB ULV?
Guy3: huh
Guy4: I think that was never a thing.
Guy1: It was canceled
Guy2: I think its still a backup
Me: The point of the matter is llano has a better GPU with better battery life than SNB equal.
Guy3: Have you seen our SNB platform efficiency rating its very very good.
Me: But not with a 5650 or a 6630.
Guy4: Have to go to the lab thank for not letting me enjoy my break

Every1 went off i still am confused and will chat about the bulldozer arc when AMD gives out details on the 7th. All in all i dont think these guys think llano as a threat but Bulldozer really cleans their clocks.