Freescale will be unveiling the details about its new G4 MPC7448 CPU at SNDF 2004 Europe at the end of this month. This chip is the evolution of Freescale's tried-and-true G4 744x line. It appears to be a lower power version, possibly due to a die shrink.
Note that this chip announcement is in addition to the planned October announcement of Freescale's next-generation chip line, the e600. Unlike the G4 744x, the e600 will offer support for dual cores and an integrated memory controller.
While not as advanced as the e600, the G4 MPC7448 will still likely be very important to Apple. Apple has already stated that there will be no G5 PowerBook in 2004 and it is possible that Apple will release another G4 PowerBook this year based off the MPC7448. This chip will likely have a much faster time to market than the e600, and will have low power requirements perfect for a new Apple laptop update.