Quite insane as you said, although it reminds me of the Mac Pro tower which has 8-core (two quad cores) and, yes, 32 GB of memory (even though it's only 800mhz, we're talking about 8 sticks of 4GB, which is not available for PCs as far as I'm concerned). Only difference is the quad SLI setup. By the way, the 32 GB of memory costs ~10000$ (yep, only for memory!).
As for AMD, they showed off at CES earlier this week a, and I'm quoting,
Dual GPU Radeon HD 3870 X2, which is a single card with two graphic processors. Imagine that times four! Crazy stuff!
Ref:
AnandTech
The new Antec Twelve Hundred case looks awesome as well. Check out photos at:
AnandTech