(Update) Many people (such as DBANotes) think IBM is the ultimate loser in the Sun/Oracle deal. I think the deal is not necessarily bad news for IBM. Here is my rationale. IBM did not win because:
1) Anti-trust concern. Sun and IBM together will have a very high share of both UNIX server and storage tape markets.
2) Oralce CEO Larry and Sun CEO McNealy are very good friends (source: WSJ).
Negatives for Oracle: