The Itanic was Intel telling its customers (back in the day it thought it had total control) which way they were going to go for 64 bit processing. The customer base wanted the i86 expanded but Intel just flat said no. That is when AMD cam out with the Athlon and it was pitted against Intels lame P4 hub achitecture and beat the pants off of it.
All of the sudden Intel started listening (finally, instead of dictating) and went back to the superior p3 core and low power and dual core and the rest is history.
Although Intel still had a major bottleneck, the hub. So it finally decided to clone the AMD hypertransport on the already superior CPUs into the Core i7. Which even though I build all AMD systems for the lower cost the Core i7 is the top of the stack with it's x58 chipset.
Itanic has been dead for at least 3 years if not more.
I'm not feeling it. Gelato hasn't seen anything from HP or Intel in plans and roadmaps that would hold interest for Gelato's HPC focus and the group itself noted there's been almost no activity at the site for three years. Wrong part, wrong focus. Oracle could have instead said last week that they adored Itanium and there's no evidence whatsoever that Gelato would not have turned out the lights on their little endeavor this week anyway.