Got one of these myself (in a IIci with a Daystar accelerator and an 8-24-GC video card, 8MW of memory, standard Genera patched for Y2K). It was quite expensive to source and to rehabilitate. Lisp machines are a bit hard to get used to, and I definitely don't claim to be a Lisp deity, but their interfaces demonstrate a great deal of thought and orthogonality that's profoundly missing from a lot of modern UI.
Under the hood the MacIvory implements a Front-End Processor to mimic their workstations. It's a multistage boot: boot the Mac, start the FEP ("Breath of Life"), start Genera. Oddly, while the FEP on real Symbolics boxes is a 68K, the MacIvory CPU handles it directly, sort of like a bootloader.
There's a nice memory dump here: http://fare.tunes.org/LispM.html