Anyone have any news on the G3 Mojave?

I've seen rumors dating back from 2003 about a new G3 chip that will have Altivec and speeds from 1.4-2Ghz and over.
I assume IBM cancled research on it as it would probably be out by now. However, it would still be a very good chip in Apple's lower end computers (Even cheaper than mac mini anyone?) I've allways thought apple should have 2 lines of towers. The powermac, and then a consumer level one. It would also be a very valuable ZIF or even daughtercard upgrade if possible as it would likely cost less and run faster than equally priced G4's.
So if anyone has some news of if it was cancled or notI would love to hear it.

Running "G3 Mojave" through Google came up with several hits. The most interesting to me was: http://forums.macrumors.com/showthread.php?t=26548. In reality it's a moot point. Apple phased out the G3 in favor of the G4 (and the G5). Now it has moved on and will move all its CPUs to Intel products. For Apple to go back to the G3 would be like GM going back to Rochester fuel injection instead of EFI on the Corvette.