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With some serious drawbacks. The 7447/8 in higher frequencies is quite expensive (550 EUR (!)for the 1700 MHz 7448 in low quantities). The comparative low FSB of the 744x series is not really state of the art in 2006.
Sure, the 7447 is a quite nice processor, you can prove that everyday with the Pegasos (for me even the 750CXe/600 is sufficient yet), but try to sell this in the "real world" for an OS whis is so resource hungry as OS X is.
MPC7448 is expensive now, and because Apple didn't by any, so it is not planed for "mass" production.
The 7447(A) was used by Apple and its price also quite high (at same clockspeeds about the same price as the 7447(A)).
And, no, the price for the 7447(A) didn't went up since Apple left the ppc.
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For the mobile devision of Apple the move was understandable.
The 8641 is not out yet, same holds true for the PWRficient.
So, Apple could have moved only modile machines if they think that X86 is better for molbile ( hahumm ! ). And so, they could show the world that Mac OS X is processor independant ....
If I was the leader of Apple I might have done that. It is obvious that the 970 is a very competetive chip, both prisewise and performancewise. Also I think that the Mini was reasonable well eqipped with a G4 (low energy, still enough power for a small computer; other ppl might see that different).
The other thing is, Steve Jobs seems to be a a bit special personality (he seems to be a black/white guy). Also it might be risky (marketingwise) to have two architectures in the market.
But again, if I led Apple, I'd go the double route.