If the rumors floating around are true, we won't see AM3 until 2H08; that's just about one year from now, for those of you keeping up with things. It means that AM2+ plus chips like Phenom will have to keep AMD afloat for over a half year. AMD will also apparently phase out their single core Athlon 64s as well:

"In their place, it's said, AMD will release a raft of 45W Semprons using the chip maker's new numbering scheme: the 1.9GHz LE-1100, the 2GHz LE-1150, the 2.1GHz LE-1200, the 2.2GHz LE-1250 and the 2.3GHz LE-1300."