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People want it for their battery-powered devices, businesses want it because power is expensive. RISC absolutely dominates in that calculation.

I am aware of ARM and their dominance in the Smartphone market. Interestingly, Microsoft, who used to back Windows NT for a variety of processors, including RISC processors, backed out of that (MIPS, Alpha) and of course Apple dumped the PowerPC for Intel. This almost certainly has more to do with market forces (IBM was NOT going to let Apple get enough chips in a timely manner, Intel welcomed the new customer, and Apple has AMD as an alternative if it is ever necessary. Plus, the $$ savings at the hardware level by having standardization on x86 / Intel x64).

So what we have is CISC continuing to dominate the desktop/workstation/notebook market (including Linux boxes), splitting on netbooks (Intel Atom has a healthy share), and competely losing out on the smartphone, iPad, smart gizmos end. I don't know if the Itanium is truly RISC, or if anyone really runs it. I assume IBM's Cell is RISC, though it's dominant feature is its scalability (as you noted was a big plus with RISC). What we have is a segmented market. Once you have armies of Intel x86 and ARM programmers and tools in place, they won't get displaced easily.

I don't know if the Itanium is truly RISC, or if anyone really runs it.

LOL! The SS Itanic. But it wasn't really RISC.

I assume IBM's Cell is RISC, though it's dominant feature is its scalability

The Cell is RISC. It is essentially a RISC PowerPC CPU with eight SIMD units on steroids (the SPEs). Like the POWER it concentrates on throughput, being able to achieve real-world bandwidth of almost 200 GB/s. This is how Toshiba had one running 48 DVD streams simultaneously to show live movie thumbnails on a TV.

Once you have armies of Intel x86 and ARM programmers and tools in place, they won't get displaced easily.

It does get interesting, but it won't just be x86 and ARM. Currently for phones we mainly have armies of Java and Objective C programmers. Windows .NET development doesn't care about the processor whether it's on x86 or ARM. But Cell programming is a strange creature unto itself. It's apparently more difficult to program for since you will only achieve performance if you know how to juggle those SPEs just right. Early PS3 games only used the PowerPC core since developers didn't know how to leverage the SPEs.