You're kidding, right. This is a fun post?
The 970x series is going to top out at about 3.0GHz. I hope we get there. Maybe .2GHz less or more.
If IBM could get to, say, 3.5 or so in the next few months, there wouldn't be a rush from them to get to dual cores. They could wait until early next year.
5GHz in 3 years. Well, 3 years is a looong time. By then they might be using 45nm. If the problems with the waste heat from numerous areas in the chip design can be reduced sufficiently, then maybe. But it hardly pays to be talking about mid 2008. We don't even know what's going to happen by January 2006!
Remember that these cooling problems are not just about the total amount of watts. The 2.5GHz chips dissipate less excess wattage, not more. It's the fact that the wattage is coming from an ever decreasing area. If you use half the wattage, but the area that is utilizing it is one quarter the size, then the temp produced is going to be higher. Less overall "heat", but concentrated over a smaller area, the temp rises.
The problem with this is that the temp diffuses through the chip and case at the same thermal speed as it did before. That causes a temp rise to be more serious that it was before. It becomes more difficult to cool because there is less area for the cooling system to interface with. The thermal resistence of the overall chip/cooling system is higher, slowing heat transfer from the INSIDE of the chip to the cooling interface.
While liquid cooling systems have a lower thermal resistence than do air cooled systems (because liquid has a greater thermal mass, as molecules in a liquid are closer together, eg. more of them per cubic cm), the problem remains as to how to get the "heat" out of the chip itself.
There are schemes as to how to do that, but so far they are only in the experimental stages. They present drastically different solutions to these problems, compared with even the cooling systems being used by Apple today, though ultimately some of them do use liquid cooling.
After all of this, if you have actually read it all, we can see that While Apple's cooling solution is good for todays chips, it may not be sufficient for those of 2 or 3 years from now.
Basically I'm sayng that you should not bet on anything remaining the same. IBM's new chips down the road might require radically new methods of cooling. If these methods were available, and the chips were designed to take advantage of them, we would be seeing 3.5GHz, or even higher speeds today.