Excellent analysis. I disagree with Cidwind that it will hurt the software development comjunity. Sun was losing steam, and this will provide the boost it needs. While it may not be the help that developers need, it won't hurt.
Unfortunately a merge like this will hurt the engineering and software developing community. I for one am going to miss the open source fun Sun offered. I think crackers (often the confused hacker) will have a field day in a few years when all operating systems are company controlled, just wait till the programmer will have no control over his own security, very scary.
IBM secure computing environment is EXTREMELY profitable source of business to hook service revenue.
"Secure computing" means many things - including finance (e.g. Wall Street). Excellent source of profits will evaporate due to consolidation in finance.
This is about customer acquisition in complementary market using similar product(servers & computing). This is not a tech buy - sorry Sun. The unique Sun arch will melt away...