Itanium is an odd one to bring up in this context as it was a design as much driven by business decisions as anything else. Intel was never hot on extending x86 to 64 bits as they wanted to move commodity servers to Itanium and restore their hegemony in commodity servers. AMD extended x86 and commodity servers users refused to pay the massive costs in refactoring their software (or completely redesigning in most cases) for VLIW and Itanium. Intel caved, adopted AMD64 (yay cross-licensing agreements) and competed the right way by making a better x86-64 architecture.
At that point Itanium was an expensive, bespoke architecture that Intel wasn't willing to spend billions on anymore as most customers for expensive, bespoke server architectures already had a huge investment in their rivals tech and little appetite for the s/w engineering required to move. Intel's obvious disappointment with the Itanium project led to rumours of its early demise which either became self-fulfilling when customers refused to invest in a 'risky' platform or just true depending on how you look at it.
I brought up Itanium because there were well known stories of demonstrations showing how much raw parallelism would be available. They'd bring out tiny snippets of hand written code and say that this is the potential compilers could achieve, while those who knew better had serious reservations.
64-bit was a minor component of Itanium compared to everything else that was different about the uarch. Really they were staking on being able to go really wide efficiently by having in-order/exposed state VLIW with a lot of software-based speculation. It all relied on a lot of sophistication in the compiler that didn't materialize, and underestimated how useful some things were.
It's a CPU where the designers had expectations for the software that weren't met. Not sure what else you should read into the comparison.
OT I thought the Power cores in both designs were fairly similar bar the differing approaches to vector units (1core + SPUs versus 3 cores w/AltiVec)?
They were, hence why I said Microsoft poached the Cell PPE.
They both had AltiVec anyway, Xenon just had more registers and a little more in the way of execution resources and special instructions.