  The first string of the neoteric high energy neutrino telescope IceCube
successfully began operating in January 2005. It is anticipated that upon
completion the new detector will vastly increase the sensitivity and extend the
reach of AMANDA to higher energies. A discussion of the IceCube's discovery
potential for extra-terrestrial neutrinos, together with the prospects of new
physics derived from the ongoing AMANDA research will be the focus of this
paper. Preliminary results of the first antarctic high energy neutrino
telescope AMANDA searching in the muon neutrino channel for localized and
diffuse excess of extra-terrestrial neutrinos will be reviewed using data
collected between 2000 and 2003. Neutrino flux limits obtained with the
all-flavor dedicated UHE and cascade analyses will be described. A first
neutrino spectrum above one TeV in agreement with atmospheric neutrino flux
expectations and no extra-terrestrial contribution will be presented, followed
by a discussion of a limit for neutralino CDM candidates annihilating in the
center of the Sun.
