CNet has an interesting article about the motherboard's bios chip enjoying it's last glorious days.
EFI promises to change all that. EFI is a tiny operating system in its own right, freed from the constraints of the BIOS. The first difference people will see is in the splash screen, the display the PC shows when first turned on. Unlike the BIOS, EFI supports high-resolution displays. Likewise, it can run with a proper graphical user interface, rather than the blocky text-only interface. EFI also has its own networking, so it can be used for remote diagnostics.The benefits of EFI have blown me away. Of course... we'll have to see in what state the tech will be in once it ships.
More information @ CNet