Gilrond said:
Sure, but it can make many middle tier games playable on those chips, where using high end dedicated video card would be an overkill. I'd prefer a scenario of using an integrated chip when possible, and using the high end GPU for games like The Witcher 2 and etc.

/> Running the high end GPU when not necessary means wasting energy and killing its fan for nothing.
Old integrated Intel chips were pathetic, but these latest ones are getting way better.
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Intel's differentiating the PC market, whether you or I like it or not. They are tracking some of their models to "PC client" devices like tablets, and others to "server/workstation" devices. Initially, only "PC client" devices are getting the Iris-equipped CPUs. The reason is that these are the ones that will benefit the most from better integrated graphics, putting them into the low range of workstation performance and winning a lot of desktop competitions.
In competition for motherboards with a PCI-e slot, as much as Intel has improved, they have not caught up to AMD and are not even keeping pace with nVidia. And the power situation doesn't make a strong case for the integrated GPU, because idle and 2-D power on the big dedicated GPUs is also very low. 2-D mode power on a GTX 680 is only about 18 watts, idle power is only 15, and AMD 78xx/79xx cards can power off completely.