>This is only my opinion and maybe I missed something and FMA will be available in Sandy Bridge.

Sandy Bridge will introduce AVX.
Its successor/shrink will add FMA.

If I were AMD, I'd...
- adopt AVX (VEX, YMM, a few new instructions)
- switch SSE5 FMA from 3-op DREX to 4-op VEX
- keep the remainder of SSE5 (and probably switch to to VEX, to eliminate DREX altogether)

Last year's SSE5 press release suggests Bulldozer in 2009.
Which seems a bit unrealistic.
If it slips to late 2010, it could match Sandy Bridge's AVX, plus have FMA.
If it slips to late 2011, it would trail AVX by a year, but have FMA when Sandy Bridge's successor will.

All AMD has to do is execute.
Which, granted, hasn't been their strength recently.

We shall see...