It's not a GPU/CPU hybrid, no -- but they're steps in that direction.Cell is not a GPU/CPU hybrid, it's just a particular form of microprocessor architecture. It's genuinely not special. Torrenza is the same. Fusion is a future attempt at doing it however, having separate cores for GPU/CPU specific applications (but each core will not do both, and the GPU component will be very basic). Trouble is, it'll likely use a completely custom instruction set, giving it a very low adoption rate for software developers, and thus either a very low compatibility rate with software, or a lot of software that just won't use it properly.
That point was "Here's the exit" not "We're here!"