David Bailey I don't think you put enough thought into your conclusion. There are laws out there to protect capitalism and prevent monopolies. For example, if Intel says we'll give Dell an extra discount on our processors if you don't use AMD processors in product line x then Intel would be unfairly undercutting AMD. Or if Intel cut's pricing, maybe even below their own production cost, on a product in one of AMD's strong areas so AMD can't sell their product. I don't see how you could think this is acceptable and not jeopardizing America's capitalism.
Furthermore, you mention "the time and resources wasted." I agree, wasting time and resources is poor management. It's not poor management when companies like Intel suck the resources out of companies like AMD by stopping their revenues from coming in with unfair business practices. I'd like to see how you'd do running AMD against a bastard of a competitor like Intel.
Bottom line: Intel is trying to put AMD out of business instead of just being profitable. If AMD is gone Intel can cut their R&D down and just focus on mass profits. Don't you want a choice of processors?