This is a pretty interesting question.
The best answer that I can think of is power. If you look back over the stats of the current CPU's on the market most (with the exception of Sun) are pushing the power envelope.
Intel's Itanium 2 (McKinley) is ~130W@1GHz on a 0.18um process
Sun's Ultrasparc III is ~75W@1.05GHz on a 0.18um process
Compaq's Alpha EV7 is ~125W@1.1GHz (estimate) on a process that I can't recall
IBM's Power4 is ~125W@1.3GHz (2 cores/1 die) on a 0.13um SOI process
HP's PA-RISC is ~60-70W as I recall, but they haven't been publishing power numbers lately. Besides, they are on their third turn of the same core (or is 4th?).
As multiple papers at various conferences can attest, much of this power is in the clock tree. In the Alpha 21264 it's ~32% of the total power (Joel Emer, Compaq, HPCA00). At the ISSCC conference last year during the question and answer section, the presenter from IBM said that approximately 65% of the total power on the Power 4 is from the clock distribution network. Most other estimates that I have heard are over 1/2 of the chip power going to the clock alone.
These CPU's pack a large amount of transistors (the Itanium 2 has over 200 million transistors vs. a mere 42 million on the Pentium 4) and dissipate large amounts of power. High power dissipation results in a lot of heat that needs to be removed from the CPU, the computer, and the building, but high power also means high currents which require precision power delivery systems and packaging. These CPU's simply don't have more margin to increase the clock frequency because beyond a certain point it becomes very hard to deliver power to the CPU. As I have heard, with current technology, the limit is about 130W. Beyond that you can't effectively cool it in a multi-way rack-mount system and you can't provide power to it cost-effectively.
Question #2:
I personally think that there little point in 64-bit computing for the home user currently. Looking ahead, I suppose it's inevitable, but for now and for the near future, I can't see a strong reason for it. I can't think of any common apps offhand that would require 64-bit integers (besides which, SSE2 has support for 64-bit integer operations) and I can't see very many home users requiring more than 4GB. And even then, you can use 36-bit addressing (ESM) to address up to 64GB.
Patrick Mahoney
Microprocessor Design Engineer
(formerly on the McKinley project)
Intel Corp.
Fort Collins, CO