Itanic failed because Intel/HP initially still used a front side bus memory architecture, which could not support the bandwidth necessary for peak performance on anything but matrix multiplication and other computations where most of the work is done in-cache. Then Opteron came around, with its faster memory, and Intel was suddenly thrown back into reality.
Itanic was also in-order (at least as far as dispatch), meaning anytime an instruction was stalled, so were all instructions in the same bundle or after it.
One "non-low-level" idea on Itanic, which never really panned out in practice, was for the assembler to automatically insert stop bits ;; marking assembly code "sequence points", instead of the programmer having to do it manually. But in practice, everyone did it manually, because they'd rather know how well their bundles were being used, and whether they could move instructions around in order get the full 3 instructions / bundle (6 instructions / clock).
And explicit stop bits did not provide any advantage to future hardware by marking explicit parallelism, because at every generation everyone was concerned about obtaining maximum performance on the current machine, which involved shuffling instructions into 6-instruction double-bundles, often at the expense of parallelism on future implementations (which never went beyond two bundles / clock).