"The bottom line is Intel should keep IPF alive as it is making an incremental profit, but nobody will ever try to do a new architecture like this again as recooping the original investment is unlikely."
A) According to even chipguy's estimates, Itanium isn't breaking even.
B) Not all architectures have to be as expensive and demand so much R&D as Itanium. (I doubt there's much need for a new architecture regardless... It's possible that one of the embedded arch's will bridge the gap into more widespread PC use, but it's far more likely that the PC will wane in popularity in preference to smaller more specialized devices. In other words, smaller/simpler/cheaper/faster may overcome even the x86-legacy advantage/millstone.)
fpg