No, because this Intel chip still use a PowerVR graphic chip, with (as far as I know) no driver availlable for Linux. Nonetheless, it seems that Intel intends to use atom CPU integrated with their in-house HD graphic GPU (the ones in sandy bridge/ivy bridge processors). These are due for late 2012 or 2013 (codenamed "Valley view" and/or "Balboa Pier"). The HD graphic chips are well documented and have fully open source drivers (and you can allready see valley view specific code in their drivers). I don't know if these chips will be limited to netbooks/tablets, or if we will see a phone with them, but if it happen it will be much easier to port Mer to it. I don't know the status of the wireless drivers though, but it would also be intel parts (open too?).
I vote that Kangal replace Elop!