xserve and xserve raid will transition and i think the guys in that sector are also building for a third xserve type ;thing; but i cant imagine what it would be...
(i work for intel see my 30th anniversary mac post)
i dont know, it depends on when xserve is released woodcrest is on target for 3rd quarter and the new mac pro but it wont be around any time soon (2-4 months prob) but apple will undoubtably try and use it before any-one else can get their hands on it
Woodcrest is a codename. If Intel follows their past behavior, its official name will be Xeon. However, I wouldn't be surprised if they change, since they dropped the Pentium name for CoreDuo.
They share the same target audience (more or less) - servers and workstations, as you say.
But they have a very different internal architecture. The Xeon uses the same architecture (x86) as all the Pentiums. The Itanium is different (IA64)
I don't think you will ever see an Itanium in a Mac.