We've already seen reports about an upcoming Core i7-975 Extreme Edition processor that could supplant Intel's current flagship in June. Today, Fudzilla quotes "sources in the Taiwan motherboard industry" as saying Intel will add another chip to the series next quarter: the Core i7-950.
Fudzilla claims this chip will run at 3.06GHz, cost $562 in volume quantities, and "essentially replace" the 2.93GHz Core i7-940 (which has the same volume pricing). The site also expects the Core i7-975 Extreme Edition to cost $999, which suggests that Intel could ditch the current $999 Core i7-965 Extreme Edition—perhaps to make room for a cheaper, similar offering without an unlocked upper multiplier. We've seen Intel pull such moves in the Core 2 series, at least.
Reportedly, both these new Core i7s and a future, updated Core i7-920 will be based on D0 revision silicon with greater overclocking potential. Fudzilla doesn't elaborate about pricing, but it seems like the introduction of a Core i7-950 at $562 would push the rest of the Core i7 lineup down into new territory.