Intel has now released us from the spurious embargo we were not under last week when we met up with that nice Mr Otellini in the gruesome Landmark Hotel. (Story: Intel's Otellini outlines chip strategy) We (and other journalists there) couldn't be under that embargo because we'd already written about the 550MHz Pentium III yonks ago. Today Intel formally releases its 550MHz Pentium III at a cost of $744, while prices of its other chips fall, in inexorable fashion. (Story: Don't buy an Intel Inside PC) But while the Great Satan of Chips was not looking, its little brother AMD quietly upped the ante by cutting prices on its parts over the weekend. (Story: AMD carries on cutting prices) Expect the next price cuts on Pentium IIIs in July, and pin this graph to your board. ®