The speed achieved here is nothing new. All they did was achieve 12.5 Gbps (or 1.5625 GBps) with a single wavelength (they use 4 wavelengths to get the 50 Gbps). There is equipment that can do 40 Gbps per a single wavelength. It is also not that hard to do dozens of wavelengths per a single wire.

What Intel did here that is exciting is possibly make this process cheap. They integrated it into silicon and thus made it very mass producible. Because of this we are going to see it do things with lightpeak that is normally done by copper. (It also can bring down the cost of fiber.) Light is faster than copper,for after a certain speed copper starts hitting a brick wall with the medium, if you increase the data transmission to 10 Gbps or higher the heat goes up to maintain integrity.

For more info go see the link here

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That said I am really pissed at Intel for they are trying to screw USB 3.0 so they can sell Lightpeak. Intel helped developed USB 3.0 as one of the members on the board determining the standard, and they purposefully delayed ratification of the standard. Furthermore they said it is going to be 2012 until they integrate it into chipsets. They are doing this for if USB 3.0 doesn't become mainstream they are hoping to sell Lightpeak, thus allowing them to make lots of royalties instead of an royalty free standard.