Yeah I've been reading a little bit about this over on EB and it seems questionable whether it's really that big of a deal. Hell new cards are on the way and by the time we get well into summer ATI will probably have an SM3 part out that will run the game faster than current hardware.
And from what I've seen of the screenshots... To me the 1.1 path looks pretty good. I agree the 3.0 screens look better overall but there are still some instances where HDR looks a bit overdone IMO. Plus running the SM3 path with all the goodies turned on pretty much destroys performance to the point I wouldnt' even be able to play at my favorite resolution even if I had a 6800U. Nah, better to wait for a newer card.
This is one of the very few games out there for which SLI might actually come in handy.