The chipset is the G965 for desktop and GM965 for mobile. The IGP is called the GMA X3000. It's supposed to support hardware T&L and comes with 8 unified shaders in a 2 pipeline configuration with 2 TMUs. So it'll have more processing power than the GMA 950, but less texture power. Kind of like ATI's 3:1 PS:TMU ratio in the MR X1600 in the MBP. In theory, the GMA X3000 looks like a very impressive architecture and configuration for an IGP, but so far Intel's been very slow to introduce drivers to activate features for the desktop version. In fact, after 6 months, they still only have only hardware PS activated, no hardware VS or T&L so it's still running like a GMA 950, only a bit faster because it's clocked higher. Whether this indicates a hardware defect or whether it's just Intel being slow to learn the new architecture they created I'm not sure. But seeing that the GM965's GMA X3000 claims DX10 support, which the G965's GMA X3000 currently doesn't, if their are hardware defects they've probably been corrected for the mobile version.
In terms of performance, some Linux benchmarks (a UT2003 based benchmark I believe) have put the GMA X3000's performance in line with the X550. Granted the benchmark is only showing DX8 code operation, but that is a decent level of performance from an IGP. This is the desktop version which runs at 667MHz, while the mobile version will run at 400MHz. The desktop GMA 950 also ran at 400MHz while the mobile version ran at 250MHz.
Also, the GMA X3000 isn't to be confused with the GMA 3000. It's not really a big deal for laptops since the GMA 3000 is only available in the corporate desktop platforms, but the GMA 3000 has none of the new hardware features of the GMA X3000, and is basically an overclocked GMA 950 at 667MHz instead of 400MHz. Why Intel choose such a confusing naming system, I have no idea.