Each LRB core is going to be larger than Cell SPU or even PPU.
If IBM is predicting 32 SPUs Cell, I am doubtful Intel is going to have 64+ LRB in the same time frame unless it is a really large chip like >400mm2.
Assuming same time frame, same process, and same size, then obviously not.
From the Cell roadmap, it looks like 32iv is set for 10/11, probably at 45nm. I think Intel would be up to 32nm LRB by 11/12.
I would also think that a LRB will be smaller than a PPU core (cache size and OoO buffers), so we can take into account the 4 PPU cores sitting Cell as well, maybe making up for the size difference between LRB and SPU cores.
If we consider LRB for either discrete graphics or a single chip console, it's not completely unreasonable to expect a 400+mm2 chip. (wasn't G80 something like 480mm2?)
All in all, I stand by my original suggestion.
Cell 2 + GPU, while still a bit weird to my liking, at least makes more sense as you would expect the SPU to pack more general purpose flops per area than a GPU or LRB, and the GPU to pack more pixel flops power per area than LRB. It's what you're looking for.
The way graphics are trending, there's less and less difference between general purpose flops and "pixel flops". General purpose might be too broad, but I'd say anything that falls into the category of vectorizable throughput computation should run well on LRB, and I think Intel have picked the right time in investing in this as the future direction for GPUs.
Regarding Larrabee I think there would be a single one in a console, not two, for the same reasons I don't believe at all in a two GPU consoles. What you gain in die size (or not, as you need two dies) is mitigated by the more complex board, interconnection etc., and you don't solve anything regarding power. I think Larrabee in a console would be quite a huge chip, with an amount of redudancy, with or without OoOE cores, and would balance its hugeness by being the only processing chip on the console (with the benefits of simplicity, effectiveness of die shrink and the lead Intel has on silicon process)
One chip to rule them all, eh
I completely agree with your argument regard to power, and since you need to keep a console within a reasonable power budget, if you can exhaust that with a single chip, then that's probably the way to go.
I was wondering if it complicated design and manufacturing to go with the bigger single die/chip. Layout gets more complicated, particularly the ring would have to grow, and latencies across the chip get higher. Your external connectors would have to grow to fascilitate more memory channels to feed the chip (although NUMA adds it own share of load balancing issues, at least it's easier to scale).
In the end I think you're right, because of power limits, a single chip solution is the most likely. I just wouldn't mind seeing 2 for the performance - assuming you won't be able to pack twice the number of cores on a die, and won't be able to scale the memory interface (internal and external) linearly.