Some sysbench results for Niagara-2 (blade), v440 and 16-core Intel box.
For a CPU test Niagara-2 and 16-core Intel box deliver about the same performance with 32 threads, while Niagara is slower for less number of threads.
Sysbench memory test shows up-to 17GB/s for Niagara-2 blade, while only up-to 4GB/s for Intel 16-core box.
Sysbench threads test - again, more threads more performance for Niagara-2. Starting with 32 threads and more Niagara-2 box is the fastest one.
Quick conclusion is that Niagara-2 box can rival 4-CPU 4-core (16 cores in total) Intel boxes if your application can utilize all these cores. Sometimes it's much faster - especially if you need to access lots of memory. Of course it's just sysbench...
Niagara-2 - 1x 1.4GHz 8-core UltraSparc-T2, 32GB RAM
v440 - 4x 1GHz, 8GB RAM
16 core Intel - 4x 4-core Intel CPU (16 cores in total) 2.13GHz, 16GB RAM