SnackRat: Anyone else thinking the Pellegrino II is outdated, or at least VERY conservative?

Of course it is outdated. Pellegrino II is pre 100 nm, let alone 40 nm, being production-ready or having undeniable evidence that GaAs CMOS is possible (the latter soon to come).

Still no reason to draft a Pellegrino III. Let a bidding war find out POET's current market price – and then let's reject it! :-)