Far be it from me to call BS on IBM, but today's announcement and subsequent NY Times story on IBM's new hardware (which are essentially blade servers) has nothing to do with Cloud Computing.
It's a fantastic marketing attempt to say that the new hardware somehow is related to running applications on a hosted infrastructure but give me a break. I really do admire the way big vendors try to manipulate the market into what works for them.
Just as, this just proves that it don't understand the shift in computing. If they really had something going on it wouldn't be about hardware, it would be about software, hosting, databases and the abstraction layer that the internet provides.