Intel has made some emulation software that actually runs 32bit programs fast on its Itanium CPUs. This isn't good news for AMD. But since AMD has the price on their side, I guess it won't be that bad.
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The new software approach, called the IA-32 Execution Layer and code-named btrans, will give the forthcoming 1.5GHz Itanium 2 the ability to run 32-bit software about as fast as a 1.5GHz Xeon MP, Intel spokeswoman Barbara Grimes confirmed.