Re: PhysX officially sucks.
PhysX will be cool, one day. In a few years it could be popular.
If you were deciding on an ATI card vs Nvidia, I wouldn't let PhysX alone push you over to Nvidia.
It seems right now only UT3 games and Mirrors Edge really use it. I think Blizzard's new games are going to use Havok (Starcraft 2).