I'm not familiar with ScaleMP as such, but you don't seem to get a load of other answers, so...
My opinion is that, for a lot of bioinformatics work, you really want an as big as possible, tightly coupled SMP system. Many applications can use multiple threads (blastall -a and so on), and can trivially take advantage of such systems.
Another class of bioinformatics solutions are scripts running various independent processes. These are often possible to parallelize into multiple processes using e.g. make -j or your shell's & and wait functionality.
AFAIU ScaleMP, it provides something like a SSI cluster, much like OpenMosix did all those years ago, and like Kerrighed and OpenSSI are doing now (or they were last time I checked). I've had some experience on OpenMosix, and it was okay for the second class, viz. parallel scripting. There were some interoperability problems, but mostly it worked well, and it sure was a lot easier than trying to convert scripts to the byzantine batch queuing language for running on a traditional cluster.
Threaded applications, on the other hand, are programmed with the viewpoint that memory is shared and "close". This is clearly not the case for a "virtual SMP", and even with Infiniband, I don't really see this working out. If you can split up your application, it's better to do it explicitly - either into separate processes (see above) or by using MPI. If you can't - and I contend that this is the case for much bioinformatics work - interconnect delays are going to kill performance, and you really need all those CPUs and all that RAM in the same box.
In general, I think HPC are doing the wrong thing for bioinformatics. It's okay to spend six weeks to rewrite your meteorology program to take advantage of the latest supercomputer (all of which tend to be just a huge stack of small PCs these days) if the program is going to run continously for the next three years. It is not okay to spend six weeks on a script that's going to run for a couple of days.
In short, I keep asking for a big PC with a bunch of the latest Intel or AMD core, and as much RAM as we can afford. (PS: Sorry about the rant)