As I ask of everyone who raises this (which no-one answers ), what would you expect a custom chip to look like? The GPU would want to have vertex units, pixel units, texture units, etc. If Sony ruled against eDRAM, and nVidia didn't have US working in a useable form, what would they do differently? The end result of a custom GPU would look a lot like G70, no? Vertex units+pixel units+texture units.
Not that I'm a genius in these matters but it seems often I hear of situations where Cell is helping the GPU in graphics. In some cases redundantly. It would seem to me that a custom design would not have parts that are not as efficient as the cpu which the chip would be paired with.
I could be way off though.