[IMPORTANT UPDATE]As an update, we have applied here to be an alpha-tester for bitfury's newly fabbed 65nm chips:
https://bitcointalk.org/index.php?topic=228677.msg2407907#msg2407907This is an exciting development for us, especially as like everyone else we are waiting on Avalon chip samples from zefir (we have chips in zefir batches #2 and #4, and more chips in SebastianJu's batch #2).
I (stripykitteh) have been following Bitfury's progress over the last couple of months and I have increasing confidence that his chips will work and set new performance benchmarks in SHA256 ASICs; in fact I've pre-ordered one of the 120GH/s miners metabank.ru from BitCentury (I ordered one within a few hours of their thread going up):
https://bitcointalk.org/index.php?topic=226846.0Bitfury may independently decide who to allocate chips to; however he has raised the possibility of a forum poll to decide. If the poll eventuates we will definitely post instructions on how to find the poll and vote for us.
At this stage if we do obtain bitfury's chips, after we participate in the alpha testing program we would adapt them into our 'larvae' trays, probably
either 8 or 16 4 chips per tray (20GH/s per tray). A fully populated 3RU miner could do 320GH/s; which is certainly impressive by today's standards. Daemondazz has already taken a preliminary look at bitfury's specs and expects we can simplify the tray design a fair bit (no CPLD required). We'd need a 500MHz clock instead of 32MHz, but apart from that we can't foresee any new technical hurdles to leap.