To clarify some mis-conceptions on the list, you get the full z/VM V4 product with the zSeries Linux Offering. As Ross stated, these machines only have IFLs and only run in LPAR mode. You can run Linux directly in the LPARs or you can run Linux under z/VM V4. The comments in the announcement about not needing traditional skills relate to your being able to use the "default install" option of z/VM and then using the z/VM System Administration Facilty. This is NOT another VIF.
It is my personal expectation that while customers without VM skills will start this way, they will quickly want to develop VM skills so they can take advantage of the full function provided by z/VM V4! Regards, Jim Elliott - Linux Advocate, IBM Canada Ltd.