I have been digging out info about the Itanic fiasco, since articles and discussions from that era are always an interesing and fun read.
Intel didn't actually beat the other CPU architectures from the bottom, it was a sort of physiological maneuver that somehow snowballed. Merely by Intel announcing Itanium, the competing makers adjusted their roadmaps and stopped developing their architectures as if they were expecting that Itanium would take over the world. Is like if they believed that resistance was futile, so nearly fully stopped their efforts. It may be related to the fact that everyone knew that Intel had made bold investments on it, plus you also had some financial analysts that were doing strong forecasts of how much of the market could Itanium take in a mere few years (Which if you see now, looks ridiculous).
The fun part of that is that when Itanium finally showed up, it was already sinking, yet somehow before that, managed to kill or fatally wound all the others competing CPU architectures in the industry...
http://fromsiliconvalley.com/2014/06/16/itanic-liked-the-original-youll-love-the-sequel/
http://fromsiliconvalley.com/2014/06/24/itanic-liked-the-original-youll-love-the-sequel-part-2/
This post from a 2005 discussion explains a bit of what I said.
Yes, basically Itanium was a resounding success, just not the way you would expect it to be.
