The idea of running legacy SPARC/Solaris on Itanium is asinine
Itanium is a dead chip walking. Why on earth would someone take old, legacy code and try to run it on soon to be legacy Itanic?
It makes much more sense to run it on x86. In fact, what Transitive needs to offer is an Itanic on x86 emulator, to help HP's victims, er, "customers" escape from Itanic.
The same idiocy applies to running Linux/x86 on POWER. Why? If you need performance, recompile to Linux or AIX on POWER. Maybe the value proposition is you can spend ten to fifteen times as much on the hardware.
The idea of Transitive on Solaris on x86 makes a lot of sense, especially if you could run Transitive sessions within Solaris Containers.
What would make even more sense would be to integrate Transitive with Xen or VMware. In fact, if Transitive could port its emulator to run natively on VMware ESX, that would get real interesting. I would love to see VMware buy Transitive, and perhaps FunSoft, and make a product which could emulate as well as virtualize. Combined with big-iron four-socket quad-core Opteron and Xeon, it could clean house in the data center.