Nvidia is working on what looks to be its first DirectX 11 card and as it was the case before, Nvidia will start with DirectX 11 in the ultra high-end and it will pass it on to slower cards at a later date. The codename that we've heard is a quite logical one, GT300, and this card will help Nvidia to fight and eventually take the performance crown in ultra high-end market.
We do know that ATI should have its high end DirectX 11 at a similar date, and in the meantime both companies will focus more on cheaper cards in 2009, as the year of the Ox will probably be a good year for selling cheaper and more affordable stuff. All of the cards to launch in next three quarters in mainstream and entry-level will stick with DirectX 10 or 10.1, depending who are you talking about.
Many of you know that high-end helps selling entry level and mainstream, and it is rather important who wins this round, but it is still way too early to tell.