The G5 is still very competitive in desktop systems, but the G4 is a bit long in the tooth. Intel is making better laptop processors than IBM or Motorola/Freescale can crank out, and I assume that by the year's end, Intel will have a new chip out that can clearly replace the dual-core G5s used in today's Power Macs.
It took IBM a looong time to make a low-power G5, and when they finally did (late last year)...well, I guess it was too little, too late. I doubt even the low-power G5 could compete with the dual-core Intel chip Apple's using in their new MacBooks.
Basically, the G5 has no real future in portables, and the G4 doesn't have a lot of growth potential left. The G4 has served us well (mostly) for the past 6+ years, but its time has come. I think the G5 probably has a lot of life left in it, but again, not in portables.