Thankfully, Sun's UK PR is switched on. One phone call and all of the juicy details were spilt. The UltraSPARC IIIi features in two new servers, the Sun Fire V210 and V240.
The processor is designed to be competitive at the lower to mid end of the market. It runs at 1GHz and features 1MB of onboard cache. It's designed for two or four way systems.
Each processor can handle a truck load of DDR2100, 16GB to be precise. It might be a while before it's practical to fit that amount into a machine, 4GB DIMMs have only just been announced and aren't commonly available.
You can find more information about the new processor on Sun's site. There are links on that page to the two server products using it. µ