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PowerPC arch has no chances....same as MIPS.
While x86 and ARM are the undisputed leaders right now, PowerPC and MIPS are still quite strong in their niches. Don't forget that PowerPC is in both PS3 and Wii, and because of far better performance per watt is less prone to heat-related failures, e.g., those reported for the Xbox. PowerPC is used throughout the data communication space, and in many automobiles. Just because a product doesn't have "PowerPC Inside" stamped on the case doesn't mean there must be an ARM or x86 inside there.
IMO, ARM has been extremely successful due to a minimalist philosophy they had from the beginning: low power, small number of transistors, and cheap licenses. There's a wonderful quote from ARM co-founder Dr. Hermann Hauser: "When we decided to do a microprocessor on our own, I made two great decisions. I gave them two things National, Intel, and Motorola had never given their design teams: the first was no money, the second was no people. The only way they could do it was to keep it really simple." This resulted in a very clean, very simple architecture with a minimal number of transistors, at least originally. It was low power from the beginning, since it had to operate in a cheap box with no fan.
ARM was in the right place at the right time when cell phones happened. They had a tiny architecture that didn't take many transistors and was very low power so battery lifetime was successful. They made the very smart decision to provide very cheap licenses, figuring you make a lot more money selling millions of ten-cent licenses than thousands of dollar licences. They've never had their own fabs, so they don't need the latest x86 processor to pay for the cost of the new US$100M fab. They just need to pay the salaries of a small number of really smart people.
IMO PowerPC could have been there instead if they had priced PowerPC licenses cheaply. Instead, there are only a few PowerPC chip makers (IBM, AMCC, Freescale) and very few really cheap PowerPCs. Xilinx has an FPGA with internal PowerPC, but it's an a high-priced series and as such you're usually better off with a cheap Xilinx Spartan FPGA coupled to a low-cost AMCC.
And then you have Sony: they're upset that people are using PS3's as general-purpose PowerPC boxes and their latest version of PS3 and software updates try to keep you from doing this. Hello? Maybe it might -- just might -- be a good idea to make a nice little desktop product based on the PS3 design?
Personally, I far prefer PowerPC to ARM. It's a much cleaner architecture. The original ARM was very clean (though limited), but over the years it has evolved into something of a dog's breakfast, albeit a very high performance one. But ARM is much cleaner than the x86 will ever be... got to keep that 8008 backwards compatibility!