Having had a quick fiddle with my new toy (... the iRAM), I can probably sum up my findings by The Good, The Bad and The Indifferent.
The Good - It does indeed bench as suggested in various reviews and saturates my ICH5R SATA at ~ 138MB/s. Access time 0.0 - 0.2ms
The card is well constructed and does its job.
The Bad - A few points I hadn't considered: Firstly this is one massive card and will require some re-working of my tidy case / watercooling. It really is a beast. Secondly, using SATA is something of a pain, as it meant moving my storage HDD onto the awful and slow Promise378 SATA on my MSI MoBo. Both complaints are due to my lack of planning.
The Indifferent- Bench's are great, but what of real world performance / human (first) impressions... Booting Windows and loading applications just isn't significantly faster than a 10k Drive (Raptor 36GB) to justify the price. So I would say most users would feel indifferent or disappointed. However, for my research work (which probably has similar access requirements as large databases / webservers?), this really has speeded things up. Times were reduced from say 400s to 300s for each simulation. Not an earth-shattering speed-up, but when you need to run several thousand simulations...
In Conclusion:
* Nice, well built product- although beware the size of the card.
* It provides a reasonable advantage to very specific applications and Users.
* But for the general user, a 10k SATA drive would make more sense.
* If they start pricing these things <£50, it does make for a fun toy
PS- Will post a full review with photos as time allows and when I've tracked down some more RAM...