I don't care about the Pentium III, and I have a theory as to why it will be a flop. There are probably fewer than 10,000 with PIII chips. Plus these chips will be as overclockable as the Celerons thanks to the on-chip cache.
Price point is a serious factor.
A K6-3 will cost less than a PIII, have broader support for its SIMD instructions, and will offer comparable performance. The PIII is a Pentium Pro with MMX, Katmai, and a higher speed in MHz. The company will end up imploding itself into oblivion.