Only if it's full custom below ~90nm, which means several million dollars in mask costs, a 6-9 month
mfg period, and a pretty good chance that the first chip is useless, unless you know WTF you are
doing and poached a rockstar team of people making $200k+/yr away from companies like
Broadcom, Marvell, Intel, etc. And managed to convince your investors they wouldn't be better
off funding something else for a larger / lower risk market.

Given the odds of BFL pulling that off - I'm going to keep buying FPGAs.
I will fear a true full custom mining ASIC if/when it exists, but the FPGAs
will certainly have paid for themselves way before then.

-rph