By my estimates, you've got CELL running somewhere around 100 Watts, RSX at around 50 Watts, the BDRD at (totally guessing here) 30 Watts, the 2.5 HDD at around 10 Watts, and another 10-20 Watts for the various other devices (BT2, card reader, etc) all probably with at LEAST an 80% efficiency PSU, so we're talking about a what 240-250 AC draw, so an additional 40 Watts heat to cool... ... ... ... ... >.> <.< >.> on the other hand that's quite a bit ain't it? Well, this is based on PC standards and some large guessing on my part, numbers outside of RSX don't really consider undervolting and various or actual efficiencies...
Add in XDR and GDDR3.
I agree that in theory RSX at 550MHz should be a cake walk. The base architecture is 12 months old and desktop G70 GPUs were hitting 550MHz last fall at 110nm. The 90nm revisions are in the 650MHz range as you noted and OC even higher. Time has been on Sony's/NV's side and the architecture seems well capable of hitting the target frequencies. And yet I still hear chirping of a possible (but not confirmed) frequency drop to 500/650.
That said there were a lot of rumors of Xenon being 2.8GHz and Xenos at 350MHz in mid-Summer last year, and part of that due to dev kit situations, and MS hit their targets in the end. So I take the rumors with a grain of salt. At some point Sony will confirm one way or another. Until then we will have to weather the storm of fans