Itanium's future not so bleak after all?

Johan De Gelas has written an interesting article on Itanium over at AnandTech.
Still, despite its rather dull reputation of a big iron CPU, and the flood of negative predictions, the EPIC has something fascinating. From a purely technical and academic point of view - completely ignoring the economical and business logic - there are some strong indications that time may well be on the side of the EPIC CPU despite all doom scenarios. That might sound insane right now, but allow me to explain this statement.
The article goes on to detail the history of Itanium's EPIC architecture, and explains why a focus shift to thread-level parallelism and multi-core processing may benefit Intel's much-maligned big iron processor.
Tip: You can use the A/Z keys to walk threads.
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