Jesus, I hate how I have to do this every time the G5 is talked about...
Some common misconceptions and outright lies:
1) There is no inherent performance increase from 64-bit processors, unless you are doing one of a tiny handful of very specialized tasks. If you use a lot of very highly detailed and demanding math with enormous integers that require a 64-bit length, you will get speed improvements. If you're using more than 4GB of RAM on a single task, you will get some improvement. For prety much everything else, being coded in 64-bit is a slowdown.
2) The system itself is already multithreaded in OS X, and many of the professional applications that people whine about are also SMP-aware and benefit from having more than one processor. For them, a faster dual-core 32-bit processor is far more likely to provide performance in a portable, since the likelihood of having more than 4GB of RAM in that form factor is next to nothing at the moment. In addition, the 8461D will have dual 128-bit double precisions AltiVec units, 2MB of interleaved and sharable cache, and an on-die memory controller. Even at 1.5-1.8ghz, it will probably demolish anything in the single processor portable market for getting actual work done. Anything, including AntaresSP, unless IBM has some kind of miracle surprise up their sleeve.
3) The 7448 part is pin-compatible with current PowerBooks and goes to 1.8ghz, giving an intermediate step for Apple while a solid tapeout and redesign is made for next-generation technologies. If they move to the 8461D, this is necessary and inevitable, while the AntaresSP is comparatively similar to the older motherboards - north and southbridges, AGP bus, PCI bus, and so on. You could cut out a lot of the complexity of the motherboards with the 8461 by killing the southbridge chip, moving peripherals to the PCI-Express bus (which adds future compatibility for graphics and data paths), and using DDR2 memory for reasons of cooling and power consumption. Unlike Antares, that's all on the chip and needs no motherboard space for controllers.
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What's more likely is that the AntaresMP will end up in PowerMacs and xServes as the high-end workstation chip, with AntaresSP in the iMac and eMac. Portables should roll to the 8461MP for PowerBooks and the 8461SP for iBooks. Of course, I wouldn't cry any tears if Apple were to take the 8461MP and put it in the 4-way tower with two chips and four cores, since I think that it's a far superior design to the 970.
We won't see a mature PowerPC offering from IBM until the Power5 derivatives show up, whenever that will be. The 970 is, was, and will be a kludge to fill the gaps.