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Tom Lowe
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I bet online 4K will be reality by the time my RED #1110 ships. I can online 3 streams of 1080p24 on my G5 quad right now. A 3GHz quad-core Mac Pro is about 20% faster overall (although it's hard to put a true number to it) and we're expecting 8-core Mac Pro systems around NAB (when Intel's new chipset should be shipping to better support the quad-core Xeons). My AMD X2 (2.4GHz dual-core, 3GB RAM) can handle 2 streams of DVCPROHD @ 100Mbps in real-time via Edius.
If I can't online at least one feed of REDCODE RGB 4K off of a decent RAID and a new workstation bought late this year, then I'll be rather disappointed.
In reality though, I think it still makes the most sense to shoot 4K, export to and edit in 2K, deliver to film and/or HD 1080p.
To me, I'd rather just skip all the proxy stuff and edit online at 4K compressed. I like my projects being self contained. It's what I'm used to from DV and 720p. By next year 4K compressed online will be a breeze for any high-end editing machine.