Bonefish, that may be Intel's answer, but it is a very weak answer. Software emulation of x86-32 on a different architecture (expecially one that clocks at a third the speed of a real x86) will always be pathetic.
No rational IS department will run x86 software on Itanium, except perhaps for offline utilities which don't need speed. If they are true-blue Intel then they are much better advised to run a Xeon server next to the Itanium server, and migrate as Itanium software becomes available.
Why Intel doesn't simply put a Xeon-class processor on Itanium boards as a coprocessor option, and forget about emulation, is beyond me. Certainly they could resolve the bus sharing, cache & chipset issues in hardware at less cost than an emulation effort that is doomed from the start!
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