It's not the cough that carried him off, it's the coffin they carried him off in
Buried in an interview on CNet, Ross Mauri of IBM outs the speeds, long believed to be over 4GHz. He says "Yeah, 4 to 5GHz for sure", but 'sure' will be dependent on them actually making chips on time and in quantity.
The real open question is IPC, does it tank like the P3 -> P4 transition, or does it hold ground?
If they are in the same region as the Power 5/5+, Itanic will have one very interesting year ahead of it. In either case, IBM looks to be putting in some sophisticated system level power management into the P Series boxes that Power 6 is destined for, so it may not have the same ill fate as the P4. ยต