Fuad has a couple of posts on AMD's upcoming 45nm Deneb processor...

There will apparently be two dies produced - one with 6MB of shared L3 cache, and one without shared L3 cache.

The L3-less processor (which will still have L1 and L2 caches) will apparently have a 95W TDP, support HT3, and launch this year.

The 6MB L3 cache part will have a much bigger die, as that 6MB of cache takes a lot of transistors. By producing a separete die for the L3-less part, AMD can probably make roughly twice as many 45nm quad cores on the same wafer (as if it had L3 cache). Presumably the TDP will be higher on the part with the L3 cache, and it will also feature a higher price.