i actually read on the register:
"Sony and IBM dispelled any doubt that in addition to being suitable for technical and commercial IT, the processor is aimed at the heart of the home: with digital TVs and home servers cited as likely vehicles for the processor."
which basically means they are going to use it to make cheap server computers....

"IBM said the processor is "OS neutral", but it will able to run multiple operating systems concurrently."
now that sounds cool... but how about 2 or more DC projects :D

and,
"When the unit appears - in enterprise kit from IBM, and in Sony's PlayStation 3 console - it's likely to clock 4.6GHz and be built on a 65nm process."
4.6GHz is above what AMD and Intel will be able to reach, Intel's P4 is pretty much dead now as they have scrapped plans for 4GHz