From the nVidia news release:-
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NVIDIA Corporation ( NASDAQ: NVDA), the worldwide leader in visual
processing solutions, introduced today the NVIDIA(R) GeForce(TM) 6800
models of graphics processing units (GPUs) for high-performance
desktop computers. The NVIDIA GeForce 6 Series, which includes the
flagship GeForce 6800 Ultra and GeForce 6800, is designed to deliver:

-- Industry-leading 3D performance -- new superscalar 16-pipe
architecture delivers more than twice that of current industry leading
NVIDIA GPUs

-- New features, including Microsoft DirectX(R) 9.0 Shader Model 3.0
feature set -- for ultra-realistic cinematic effects

-- Unprecedented on-chip video processing engine -- enabling high-
definition video and DVD playback

"This is the biggest generation-to-generation performance leap that we
have ever seen with a new GPU," said Jen-Hsun Huang, president and CEO
of NVIDIA. "In addition to the raw performance increase, we had two
fundamental strategies with the 6800 models. First was to take
programmability to the next level with the industry's only GPU with
Shader Model 3.0. Second was to extend the reach of GPUs to the
consumer electronics market with a powerful and fully programmable
video processor capable of multiple video formats and 'prosumer' level
image processing."

"As DOOM 3 development winds to a close, my work has turned to
development of the next generation rendering technology. The NV40 is
my platform of choice due to its support of very long fragment
programs, generalized floating point blending and filtering, and the
extremely high performance," said John Carmack, president and
technical director of id Software
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Still have to hear from Gabe@Valve. All quiet from him, so
far......... Must be busy tweaking the HL2 code for Shaders 3.0 ?
Shaders 2.0 must now be just a little passe..... Far Cry V1.1
implementation of Shader 3.0 is apparently little rough at the
moment, but Crytek says that they are working on it. No doubt
it will be in a polished patch by the time the NV40 is retail
available.

For me personally the 6800 is as exciting a step forward in PC
peripherals as the Voodoo1 was when it first emerged. Not only for
the 6800s enormous graphical power, but also for its potential
contribution to PC-based video production and editing, which is an
active business for me. The very powerful integrated video processor
is as important to me as the graphics capability, particularly the
MPEG-2 encoding hardware elements. Adobe After Effects have
already declared support for the NV40 and no doubt other video
toolmakers like Pinnacle are looking hard at its capability. Now if
Intel would only reduce the price of the P4 EE to that of the retail
list of the 6800Ultra, or less, instead of fleecing potential
customers at $999 a pop, then I would be very happy indeed with my
video production/editing hardware after those two were installed.

John Lewis