nVidia will finally upgrade from DX10 to DX11. After skipping out on the DX10.1 release nVidia is going straight for DX11 and their first DX11 hardware should ship in Q4 this year.
It is expected that this will be the GT300 and could possibly be the first 40nm card from nVidia but nothing is certain.
One thing of concern is that this DX11 GPU might be the next new item to come out of nVidia. This will make for a long boring refresh/reband fill year until we see really new innovation.
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Nvidia did said before that it doesn't plan to go for DirectX 10.1 and that it rather wants to concentrate on DirectX 11 but it was more of a business decision as ATI was leading with DirectX 10.1 for such a long time.