Ignorance is bliss...
Itanium machines have been shipping (as servers, not for the normal people) for almost a year now. Their performance has been very bad and thus you never heard about them much, and they may have been halted by now, waiting for improvements in design and speed.
Coding for a chip requires that the design for the chip is so called "taped out", ie frozen,mand won't be changed until the next revision. as soon as a chip is taped out, there is also physical material available, at least in sample quantities, most certainly running into production right away.
Also, you can't make a compiler for a Virtual chip, at least a working prototype is always needed. Just loojk at BitBoys OY, the company that claimed it was going to revolutionize the graphics card market. They never hard any silicon to do with, they used a complete PC in emulation mode to "emulate" the graphics card. Things have been silent about them since they went belly up about 1.5 years ago.
The Apollo is coming, that has been officially confirmed more than once, and it's logical. However that does not mean it's going to be used in PowerMacs, or any Macs at all. Some of you probably remember IBM's 620 chip back in the days of the 603 and 604. That chip as NEVER used in any retailed Mac, although it was by far the fastest chip of the whole 6xx family. IBM used it for their servers.
The Book E architecture has been there for a long time already, way enough time to develop the G5 to a level that may well have reached mass production by now. the transition to the 8xxx naming doesn'tmean anything either.
G1/G2 also had a 6xx naming, G3/G4 had a 7xx/x naming, so why not have the G5/G6 have a 8xxx naming scheme? Also who tells you Apple hasn't already started developing their version of the G5 themselves. Just because we never heard about an agreement between Apple and motorola, doesn't mean there never was one.
Concluding, all arguments speaking AGAINST a near release of the G5 (within 6-10 months), have failed to convince, an are basically based on a stubborn thought of some people here, while arguments speaking towards the release have shaped up more and more and are starting to go beyond the level of rumors, more to the level of facts.
I don't be getting specific on any of the claims made, I'll just wait and see. Watch for my LOL @ suckfuldotcom, as soon as the G5 has arrived.