Current rumours say RSX is a higher clocked RSX + FlexIO interface + 128 bit HDR.
FlexIO interface lets RSX and CELL work together and 128 bit HDR is needed in order to exchange HDR data between RSX and CELL since SPEs, IMHO, can't work on 64 bit HDR data (lack of data conversion inctructions from 16bit fp to 32bit fp numbers and viceversa).
So 128 bit HDR rendering would be used only when RSX has to send data to CELL.