Are there other things that GPU's are unquestionable better at than CPU's?
I suppose that preforming FP calculations are very parallelizable?
Also, GPU hardware is built from the ground up around floating point operations, while most of the code that goes through a cpu is integer based. Floating point hardware is a lot more complicated (and therefore expensive) than integer hardware, so the amount of fp resources that can be justified on a cpu are fairly limited.
I believe they're talking about having a single gpu on chip to handle multiple cpu cores (threads) at a time, so that will let the hardware stretch it's legs a little and of course the compilers will probably be tuned to try to schedule as many fp operations at a time as they can.
So something like the Cell architecture?
I'm just guessing here, but I think the idea would be for the hardware to automatically do all the offloading here, which is different than Cell. With Cell, you had to be very careful about what you were programming where, and I would assume that this stuff from AMD would just take normal code and have the cpu fetch/decode logic forward fp calls through to another part of the chip automatically for you.