I'll try to reply to a bunch of questions that I've seen.
POWER != PowerPC, although they are related. As others have said, the PowerPC 970 family (aka G5) was a derivative of the POWER4 processor. PowerPC in general is a derivative of POWER, although now POWER is borrowing some things back from PowerPC (like Altivec, which is being incorporated into POWER6).
POWER processors are very expensive compared to their lighter PowerPC-branded counterparts, mainly because they have a different purpose in mind. POWER processors are used in IBM's mid to high-end servers, like their 'p' and 'i' series. These servers are used in big corporations, banking institutions, governments, and in research fields.
To give you a sense of how POWER is different from PowerPC, the cache size on a POWER processor is typically 36 MB or greater, whereas a PowerPC processor maxes out at 2 MB.
While IBM is hoping to strip the POWER6 down into a light version to be able to use in blades, don't expect this chip to end up in your average PC, even if Apple was still interested in it.
Some more info:
http://en.wikipedia.org/wiki/IBM_POWER#PowerPC