According to information posted on Impress Japan, Larabee should be out in 2009 and the first two versions will have 32 and 24 cores respectively, with a 48 core version coming in 2010.
There isn’t much to go on in terms of real information, but it seems like Larabee will use a large cache and in order cores, which means that if there’s a cache miss read, then there could potentially be some problems.
It also seems like Intel has decided that Larabee will use standard x86 code, although this might just be for none graphics related tasks.
Aparently Intel is set to Demo Larabee sometime next year, but again, there’s no exact information on when.
There’s some talk about AMD’s Fusion project in the article and a couple of interviews with AMD and Nvidia. You can read the full story here in Japanese.