Today's leaked information on Galaxy S III, while not definitive, shows that it will maintain a dual-core CPU with higher clock speed. What this like means is that we'll get better performance without sacrificing battery life and we'll be able to experience all the mobile goodness without seeing any performance hits.
For a while, I thought the mobile chip arms race would mean doubling cores for a few years. Don't get me wrong, I live faster speed but I also would not mind better mobile experience through other innovative upgrades and services without worrying if my phones are gonna run out of battery.
Phone Arena has other specs that you might wanna take a look at. I'm not posting here because I think they're far from set. However, I do believe that the core war is on hold for the smartphones for at a year. I don't see Qualcomm, TI, or Apple putting out quad-core chips for smartphones.
I think these new Samsung chips should be using 32 nm process while its competitors vary with their chip building needs. In fact, Apple's latest chip, the A5, that powers the iPad 2 and the iPhone 4S seems to be bigger than its competitors, thus, power-saving would through other means. And it also means Apple may not be going quad-core for the iPhone in 2012.
These are just my speculations. So, 2012 means faster chips that result in better performance (processing and video) and, I hope, bettery battery life.