I certainly have to highly-recommend this upcoming CIO-magazine sponsored webinar: Utility Computing: How to Leverage Industry Advances to Optimize Data Center Economics. It's scheduled for September 19, 2:00 PM EDT.
Along with BearingPoint,m I'll be discussing (yes, live and in-person!) what we mean by utility computing, and how the technologies that make "utility computing" possible are available today.
It's more than virtualization. It's about intelligently pooling all HW resources you own today to radically cut operational and capital costs -- and attain a level of agility that current HW/SW models inherently block.
As I've said before, CIOs are doing this already, you just don't know it. Look at Amazon's EC2. Look at Google's infrastructure. Look at Sun's Grid system. It's possible to do with the IT infrastructure you have sitting in your data center today.
What could you do if your total operational cost basis (fully-loaded, everything) was $0.10 per instance-hour for all of your compute services?