The Phenom series had a better IPC, however things need to be put into perspective. Bulldozer's "cores" aren't as efficient (IPC wise,) however you have more cores. This prevails in heavily multi-threaded tasks such as video encoding and benchmarks show the FX-8150 to be strong in these areas. The problem you run into is when you have an application (games are great examples of this being the primary issue for bulldozer) that only utilizes a handful of threads, you have the i7 prevailing because of the IPC.
Bulldozer didn't fail, it's just geared towards servers more than anything, because in server applications Valencia and Interlagos run without skipping a beat because you need to handle multiple clients (multi-process by design in most cases,) but for newer games on video cards as fast as the 7970, you will see (like on Crysis 2,) that the CPU benefit between the i7 2600k against the FX-8150 is minimal because it can harness the power bulldozer has.
Now to wrap up everything with one last piece of brain-food, if you have a Bulldozer CPU, watch your CPU utilization on applications that run relatively poorly (not to say it is running poorly, but relative to the 2(5/6)00k I'm willing to bet that the Bulldozer has more CPU time available in the background than Intel's chips do, which allows you to do things like video encoding while you play a video game. That is AMD's focus, and with Bulldozer looking strangely like a GPU design, I would guess that this is the first step towards a heterogeneous computing platform where separation of GPU and CPU (even at the die level,) doesn't exist, but that is incredibly far down the road, even now with bulldozer being a "flop."
As a system administrator, on a workstation I would rather have an FX-8150 because of the benefits 8-cores bring to a developer or admin. If I were gaming, I would rather have an i5 25(5/0)0k even though the i7 has more power, there are some cases where the i5 is faster than the i7 and I'm willing to bet that has to do with the size of the L3 cache (smaller tends to have lower latency), and if the machine did both, I would want an i7.
Edit: Out of order execution has been around for a long time and it really depends on the CPU implementation weather it needs to have it or not (with x86 it's practically a given.)
Edit 2: Once again I will re-iterate that the FX-8150 is adequate (but only adequate) for single tasks, but when you throw multi-tasking and multi-threading at it, that price point looks much better and much more reasonable. Also I will once again quote Guru3d's Hilbert Hagedoorn, "If anything, this little article proofs once again that investing money in a faster graphics card will gain you better game performance compared to investing in a faster CPU. The performance difference in-between a 1000 USD Core i7 3960X compared to a 320 USD Core i7 2600K processor is extremely small, something you'd never notice unless measured. So we say, stick to a modern mainstream quad-core processor and the differences really aren't that big in the overall framerate, especially at 1920x1080/1200. Yes we know it's that weird penumbra, the higher you go in resolutions, the slower your processor may be. Remember, once you pass 1920x1080/1200 the GPU is almost always the bottleneck, not your processor." Feel free to check out the CPU scaling review with the 7970 here:
http://www.guru3d.com/article/radeon-hd-7970-cpu-scaling-performance-review/1