XGI looks promising, and I'm looking for it.
It would be great to see those v5 v8 cards, which are similar to ATI r300 chip, from paper. They will follow up standard DX9.0API, and that's good.
Why is it important for us their success?
It will force Nvidia to follow standard too, not to play dirty game behind the scene, paying developers to code the games using non standard 'procedures'.
ATI-Microsoft deal is also important in this sense. Most of developers will make XBOX2 games, using standard DX 9.0 API or whatever case might be, and that's gonna reflect on PC games as well.
From this time now, OPENGL is death. The only company, who supports it is ID Software. As I see, OPENGL doesn't have a future...