The RSX is a 90nm GPU weighing in at over 300 million transistors and fabbed by Sony at two plants, their Nagasaki plant and their joint fab with Toshiba.
Given the transistor count and 90nm process, you can definitely expect the RSX to feature more than the 16 pipes of the present day GeForce 6800 Ultra.
NVIDIA confirmed that the RSX is features full FP32 support, like the current generation GeForce 6 as well as ATI's Xbox 360 GPU. NVIDIA did announce that the RSX would be able to execute 136 shader operations per cycle, a number that is greater than ATI's announced 96 shader ops per cycle.
1) NVIDIA stated that they had never had as powerful a CPU as Cell, and thus the RSX GPU has to be able to swallow a much larger command stream than any of the PC GPUs as current generation CPUs are pretty bad at keeping the GPU fed.
2) The RSX GPU has a 35GB/s link to the CPU, much greater than any desktop GPU, and thus the turbo cache architecture needs to be reworked quite a bit for the console GPU to take better advantage of the plethora of bandwidth. Functional unit latencies must be adjusted, buffer sizes have to be changed, etc...
Link
Since that interview with David Kirk conducted by Zenji Nishikawa contains so little words from Kirk that it's almost dedicated to technical illustration for readers and speculation by Nishikawa, I have little to add to what Mikage's post. Kirk says nothing about specifics about RSX, but only about how this RSX-CELL system works. Anyway here's a bit more descriptive version of the latter half of the article -
David Kirk: SPE and RSX can work together. SPE can preprocess graphics data in the main memory or postprocess rendering results sent from RSX.
Nishikawa's speculation: for example, when you have to create a lake scene by multi-pass rendering with plural render targets, SPE can render a reflection map while RSX does other things. Since a reflection map requires less precision it's not much of overhead even though you have to load related data in both the main RAM and VRAM. It works like SLI by SPE and RSX.
David Kirk: Post-effects such as motion blur, simulation for depth of field, bloom effect in HDR rendering, can be done by SPE processing RSX-rendered results.
Nishikawa's speculation: RSX renders a scene in the main RAM then SPEs add effects to frames in it. Or, you can synthesize SPE-created frames with an RSX-rendered frame.
David Kirk: Let SPEs do vertex-processing then let RSX render it.
Nishikawa's speculation: You can implement a collision-aware tesselator and dynamic LOD by SPE.
David Kirk: SPE and GPU work together, which allows physics simulation to interact with graphics.
Nishikawa's speculation: For expression of water wavelets, a normal map can be generated by pulse physics simulation with a height map texture. This job is done in SPE and RSX in parallel
Sounds amazing.