The basic architecture is still of the X3x00. It now has 10 Execution Units, hardware CABAC engine. Lots of the performance increase seems to be the additional EUs and significantly higher memory bandwidth.
The 2x advantage is comparing mobiles BTW. It's comparing the GM47 chipset against the GM965 chipset. GM45 is the regular one with 533MHz clock and GM47 has 640MHz clock. GM965 has 500MHz clock.
1.7x is the performance advantage Intel quotes for GMA X4500 desktop against the G35.
It is said as Gen 5, compared to Gen 4 for the X3000/X3100/X3500.